March 02, 2017 | 21:32 (GMT+7)
Coffee export soars in two months
Vietnam was estimated to ship 273,000 tons of coffee abroad for USD 616 million in the first two months of 2017, down 7.3 percent in quantity but up 22.3 percent in value compared to the same period last year.
Vietnam ships 273,000 tons of coffee abroad in the first two months of 2017. Photo: suckhoedoisong.vn
Top importers Germany and the US accounted for 16 percent and 14.7 percent 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 USD 2,257 per ton in January, up 30.2 percent 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 percent due to drought.
Growers tend to stock their goods in hope of higher prices, he added.
Nam also forecast a 30-percent reduction in coffee export due to material shortage.
In respond to the information that Brazil cancels import of Vietnamese coffee robusta, Nam said it causes little impact on Vietnam’s exports as the volume Brazil intends to import is not much.
Source: VNA