Coffee export soars in two months
Vietnam was estimated to ship 273,000 tonnes of coffee abroad for 616 million USD in the first two months of 2017, down 7.3 percent in quantity but up 22.3 percent in value on a yearly basis.
Illustrative image (Source: VNA)Hanoi (VNA) – Vietnam was estimated to ship 273,000 tonnes of coffee abroad for 616 million USD in the first two months of 2017, down 7.3 percent in quantity but up 22.3 percent in value compared to the same period last year.
Top importers Germany and the US accounted for 16 percent and 14.7 percent of the total Vietnamese coffee exports during the period, with shipments to Belgium, the UK, the US and Algeria increasing significantly.
Coffee products were sold overseas at an average price of 2,257 USD per tonne in January, up 30.2 percent year-on-year.
Do Ha Nam, deputy head of the Vietnam Coffee & Cocoa Association, said domestic coffee yield this year is expected to drop by 20 percent due to drought.
Growers tend to stock their goods in hope of higher prices, he added.
Nam also forecast a 30-percent reduction in coffee export due to material shortage.
In respond to the information that Brazil cancels import of Vietnamese coffee robusta, Nam said it causes little impact on Vietnam’s exports as the volume Brazil intends to import is not much.-VNA
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