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Vietnam’s coffee export predicted to grow higher

The Institute of Policy and Strategy for Agriculture and Rural Development has forecast that Vietnam’s coffee export will increase in coming months on the back of growing global demand and free trade agreements.
Vietnam’s coffee export predicted to grow higher ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – The Institute of Policy and Strategy for Agricultureand Rural Development has forecast that Vietnam’s coffee export will increasein coming months on the back of growing global demand and free trade agreements.

Accordingto the Vietnam Coffee – Cocoa Association, coffee export will reach nearly130,000 tonnes monthly in November and December. If export prices remain high like atpresent, it could bring home additional 600 million USD, bringing the yearlytotal to 3 billion USD.

Dueto the COVID-19 pandemic, the sale of coffee materials has met difficulties.With disruptions in supply from Vietnam and Brazil and hiking logistics costs, the world coffee prices are predicted to rebound in the coming time,prompting Vietnamese farmers to switch to growing them again after two years ofinter-cropping practice.

Atpresent, the Central Highlands provinces are harvesting coffee but facing shortage of workers caused by the pandemic.

TheDak Nong provincial Department of Agriculture and Rural Development reported thatduring the 2021-2022 crop, Dak Nong has over 130,000ha of coffee and needs about13 million workers for harvest. However, only half of the workforce needed areavailable.

Provinceshave built their own plans to pool workforce for coffee harvest depending onfour levels of the pandemic risks.

Inten months of this year, Vietnam exported 1,286 tonnes of coffee worth 2.45billion USD, down 4.2 percent in volume and up 5.4 percent in valueyear-on-year. Its biggest market was the European Union with a revenue ofaround 769 million USD, down 17 percent annually. ASEAN spent 259 millionUSD on importing Vietnamese coffee, marking an annual decrease of 19.45 percent.

Vietnam’s shipments of coffee to Germany, the USand Italy also dropped by 1.52 percent, 20 percent and 2.53 percent,respectively, to 319 million USD, 189 million USD and 172 million USD./.

VNA
#Institute of Policy and Strategy for Agriculture and Rural Development #Vietnamplus. Vietnam News Agency #coffee export Vietnam
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