Coffee exports soar in first two months
Thursday, 2017-03-02 05:47:31
NDO/VNA – It is estimated that Vietnam shipped 273,000 tonnes of coffee abroad for US$616 million in the first two months of 2017, down 7.3% in quantity but up 22.3% in value compared to the same period last year.
Top importers Germany and the US accounted for 16% and 14.7% of the total Vietnamese coffee exports during the period, with shipments to Belgium, the UK, the US and Algeria increasing significantly.
Coffee products were sold overseas at an average price of US$2,257 per tonne in January, up 30.2% year-on-year.
Do Ha Nam, deputy head of the Vietnam Coffee & Cocoa Association, said domestic coffee yield this year is expected to drop by 20% due to drought.
Growers tend to stock their goods in hope of higher prices, he added.
Nam also forecasted a 30-percent reduction in coffee exports due to material shortages.
In response to the announcement that Brazil has canceled the import of Vietnamese Robusta coffee, Nam said it will cause little impact on Vietnam’s exports as the volume Brazil intended to import was minimal.