According to statistics of the General Department of Vietnam Customs, the volume of coffee shipments abroad in the January-November period came to 1.473 million tons, down 14.6 percent, while export value also experienced a 22.2 percent decrease to nearly USD 2.54 billion.

The total export volume for the entire 2019 is estimated at 1.57 million tons, and the value at USD 2.7 billion, falling 16.57 percent and 21.17 percent, respectively, from 2018.

leftcenterrightdel
Photo for illustration

Do Ha Nam, former Vice Chairman of the Vietnam Coffee-Cocoa Association, said the reductions are attributable to falling coffee prices in the world market in line with the 10-year cycle. Previously, 2010 was also a bad year for coffee exporters.

He added that although coffee prices began to pick up in early December, the situation remains gloomy for Vietnamese coffee growers as some big exporting countries like Brazil have reported good harvest.

Nam called on the industry to expand instant coffee production to make use of tariff incentives offered by bilateral and multilateral free trade agreements that Vietnam has signed.

Source: VNA