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Friday, 01 October 2021 18:47

Acafesal presented balance sheet of the financial crisis that most affects the sector

Written by Evelyn Alas

The President of the Asociación Cafetalera de El Salvador (Acafesal), Omar Flores Hidalgo, informed that within the framework of the Día Nacional de la Caficultura, they presented a balance sheet detailing the financial crisis that is affecting the sector, where small and medium producers have a debt of approximately US$200 million.

According to the leader of Acafesal, coffee growers are receiving economic support from the Central Government so that producers can reduce the debt burden and added that they are waiting for the possible reactivation of the grain.

"Coffee growing continues in a critical situation the most delicate thing we have at the moment is the coffee debt, we have a debt as of june 30 of US$204 million 831 thousand which is a debt that is in the national banking system supervised by the Superintendencia del Sistema Financiero ", expressed the President of Acafesal.

The Acafesal leader said that the most critical debt that coffee growers have is a default that they have not been able to pay for months and that is around US$12 million 247 thousand, a negative factor that is leading many coffee growers to be foreclosed.

He said that as of january 1, 2022 coffee growers must pay this debt before the end of 2021 to avoid being affected.

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