Vietnam's Coffee Export in 7 Months Grows 102 per cent
Vietnam’s coffee export revenue hit US$1.328 billion in the seven months of this year, up 102.1 per cent on year, setting a new record in the field, according to the General Statistics Office.
The statistics showed that the world’s second biggest coffee exporter sold out 893,000 tons in the first seven months.
Vietnamese Robusta edged up to VND27,800-28,000 (US$1.72-$1.173) per kg last week from VND27,700 previous week.
Vietnam’s 2007 coffee sales are forecast to rise to a record 18.33 million bags. Vietnam Coffee Association said coffee export revenue may reach roughly US$1.5 billion for the whole year.
Last year, Vietnam exported 897,000 metric tons of coffee, earning $1.1 billion.
Analysts and traders forecast that global output for the 2007-2008 crop would fall 6.5 per cent to 118 million bags, while consumption would edge up 1.4 per cent to 122 million bags, resulting in a deficit of 4 million bags.
Vietnam aims to increase its per-hectare coffee output to 40 per cent by 2010, said an industry official.
Despite a plan to reduce coffee acreage 10 per cent by 2010 down to 450,000 hectares, the higher per-hectare yield would result in a harvest of 1.08 million tons of coffee, an increase of 27 per cent.
The government has chosen four Central Highland provinces of Dak Lak, Lam Dong, Gai Lai and Dak Nong to conduct its pilot projects to stimulate coffee farming. (GSO July Edition)
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