Business

Vietnam, Indonesia cooperate to stabilise coffee price

Coffee markets in Vietnam and Indonesia will flourish with the recent signing of a Memorandum of Understanding (MoU) between the Vietnam Coffee- Cocoa Association (VICOFA) and the Association of Indonesian Coffee Exporters and Industries (AEKI).
Coffee markets in Vietnam and Indonesia will flourish with the recentsigning of a Memorandum of Understanding (MoU) between the VietnamCoffee- Cocoa Association (VICOFA) and the Association of IndonesianCoffee Exporters and Industries (AEKI).

Accordingly, two nationswill foster information exchanges on coffee prices in the two marketswhile sharing sustainable modern cultivating techniques to increasecoffee productivity and grower income, VICOFA Vice Chairman Do Ha Namsaid.

He highlighted that the move will help enhancecooperation with other coffee exporters worldwide, securing benefits forfarmers in the two countries.

Vietnam has a total coffeecultivation area of 614,545 hectares, with 92 percent of cultivationareas located in the Central Highlands. Each year the country exports 1million tonnes of coffee beans, generating an export turnover of morethan 3.4 billion USD.

In the first four months of this year,Vietnam shipped abroad 466,000 tonnes of coffee for 970 million USD,down 41 percent in volume and 39.3 percent in value.-VNA
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