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.