News that doesn't receive the necessary attention.

Saturday, January 25, 2014

How Vietnam became a coffee giant-BBC

1/24/14, "How Vietnam became a coffee giant," BBC,

Think of coffee and you will probably think of Brazil, Colombia, or maybe Ethiopia. But the world's second largest exporter today is Vietnam. How did its market share jump from 0.1% to 20% in just 30 years, and how has this rapid change affected the country?

When the Vietnam war ended in 1975 the country was on its knees, and economic policies copied from the Soviet union did nothing to help.

Collectivising agriculture proved to be a disaster, so in 1986 the Communist Party carried out a U-turn - placing a big bet, at the same time, on coffee.


Coffee production then grew by 20%-30% every year in the 1990s. The industry now employs about 2.6 million people, with beans grown on half a million smallholdings of two to three acres each.

This has helped transform the Vietnamese economy. In 1994 some 60% of Vietnamese lived under the poverty line, now less than 10% do....






No comments:

Followers

Blog Archive

About Me

My photo
I'm the daughter of an Eagle Scout (fan of the Brooklyn Dodgers and Mets) and a Beauty Queen.