Dao-Heuang Group will seek to repay the money it owes the country’s coffee farmers as soon as possible after the company fell several months behind in payments for the raw beans.
The company now owes farmers a total of 27 billion kip after it paid off significant debts according to the Champassak provincial Industry and Commerce Department.
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Dao-Heuang Group, a leading coffee producer in Laos, is set to enter Thailand next year via a contract to grow coffee on a 1,000-rai plot of land in the North.
This move is part of the company’s plan to boost its production capacity to meet rising demands once the Asean Economic Community (AEC) is launched in 2015, the group’s vice president Boonheuang Litdang said at a press conference yesterday.
“We will be growing coffee in Thailand in order to serve rising demand in Asean countries,” she said. The group, which is a member of the ….