Russian agribusiness firm Energoagroresurs plans to increase output of elite Colombian coffee after buying a coffee plantation in the South American country, the firm's general director said on Tuesday.
"We are currently producing between 50 and 75 tonnes of coffee per month, importing 30 to Russia, but we aim to increase output to 150 tonnes," Sergei Kushnerov told reporters.
Energoresurs' subsidiary Izumrudny Dozhd, or Emerald Rain, has acquired a plantation with 15,000 coffee trees in the Colombian province of Tolima, becoming the first Russian firm to grow coffee in the Latin American country. "We have already invested $5 million in the project, but we aim to raise investment to $20 million towards the end of 2007," Kushnerov, who is also the president of Izumrudny Dozhd, said.