Business

Coffee exports down in 9 months

Vietnam’s coffee exports in the first nine months of this year fell by 13.3 percent in volume to 1.25 million tonnes and 21.9 percent in value to 2.15 billion USD compared with the same period of last year.
Coffee exports down in 9 months ảnh 1Harvesting coffee in the Central Highlands province of Dak Lak (Photo: VNA)

Hanoi (VNS/VNA) – Vietnam’s coffee exportsin the first nine months of this year fell by 13.3 percent in volume to 1.25million tonnes and 21.9 percent in value to 2.15 billion USD compared with the same period of last year.

According to the Ministry of Agriculture andRural Development’s Department of Agricultural Product Processing and MarketDevelopment, coffee exports in September were estimated at 81,000 tonnes,earning 143 million USD.

Germany and the US were still the two largestcoffee export markets of Vietnam in the first eight months of this year withexport value of 270.6 million USD (accounting for 13.5 percentof the total) and 176 million USD (8.8 percent),respectively.

A strong decrease in average coffee export pricewas a factor leading to the reduction in Vietnam’s exports to most traditionalmarkets such as Germany, the US, Italy and Spain.

In the first eight months, the average coffee export price dropped by 10.7percent to 1,709 USD per tonne year on year.

The coffee price in the world market decreasedbecause Brazilian growers enhanced selling because of a drop in Brazil'scurrency. Meanwhile, reserves in some major markets like the UScontinue to rise, according to the ministry.

In the domestic market, the price also decreasedalong with the world market trend.

The price of green coffee in September plungedby 100 VND per kilo to 32,400-33,400 VND in the Central Highlands provinces compared with August,reported the Cong Thuong (Industry and Trade) magazine.

The coffee price in the first nine months had adecrease of 100-200 VND per kilo compared to the end of 2018.

The Brazilian government has reduced itsforecast on coffee output for this year's crop to 49 million 60-kg bags, downfrom 50.9 million bags forecasted in May 2019, due to bad weather.

By the end of this year, coffee production isexpected to increase as usual, so the international roasters and traders willpromote their brand overseas./.
VNA
#coffee exports #first nine months #Ministry of Agriculture and Rural Development’s Department of Agricultural Product Processing and Market Development #Central Highlands #Vietnamplus #Vietnam News Agency
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