Business

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.
Coffee export soars in two months ảnh 1Illustrative image (Source: VNA)

Hanoi (VNA) – Vietnam wasestimated to ship 273,000 tonnes of coffee abroad for 616 million USD in thefirst two months of 2017, down 7.3 percent in quantity but up 22.3 percent invalue compared to the same period last year.

Top importers Germany and the US accountedfor 16 percent and 14.7 percent of the total Vietnamese coffee exports duringthe period, with shipments to Belgium, the UK, the US and Algeria increasingsignificantly.

Coffee products were sold overseas at anaverage price of 2,257 USD per tonne in January, up 30.2 percent year-on-year.

Do Ha Nam, deputy head of the VietnamCoffee & Cocoa Association, said domestic coffee yield this year isexpected to drop by 20 percent due to drought.

Growers tend to stock their goods in hopeof higher prices, he added.

Nam also forecast a 30-percent reduction incoffee export due to material shortage.

In respond to the information that Brazilcancels 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 
VNA
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