Coffee exports face downward price trend
In the first half of the year, the country exported 741,000 tonnes of coffee, a
year-on-year increase of 23 percent for only 1.1 billion USD.
The current coffee prices are cheaper by an average 500 USD per tonne compared
to one year ago, despite a short-lived increase in early June.
A sudden drop of 70 USD per tonne overnight on June 15 at the London trading
floor immediately pushed the prices of coffee in Vietnam down by 800 VND per
kilo in compared to the previous week.
The Vietnam Coffee and Cacao Association (Vicofa) has advised enterprises to
keep close watch of the market and share information with each other to
minimise risks in signing export contracts.
The association also recommended that businesses invest more in processing to
export processed products instead of raw coffee.
The country now has about 500,000 ha of coffee farms, leading the world in out
put of Robusta coffee. It has set the target of earning 1.6 billion USD from
coffee exports this year./.