BRAZIL TREASURY TO RELEASE COFFEE BUYING FUNDS

  The Treasury Department is due to
  release funds for the Brazilian Coffee Institute, IBC, to pay
  for the coffee purchased from local producers, the IBC said in
  a statement.
      IBC production director Oripes Gomes said in the statement
  that payment would be made within the official guarantee
  prices.
      The statement said the IBC is sending a document to the
  National Monetary Council asking the government to set a budget
  for the purchase by the Institute of up to five mln bags of
  coffee until June 30.
      Gomes said in the statement there have been no problems in
  the concession of funds by the Treasury for payment of the
  coffee delivered to the IBC warehouses by the producers.
      He said producers have already delivered 2.2 mln bags, of
  which 1.5 mln bags have been paid for.
      In the future, according to an agreement to be signed with
  the Treasury, the Institute will no longer need to seek
  approval by the Treasury to seek the release of additional
  funds to buy coffee, the statement said.
  

