Vietnam Sees Coffee Export Revenue up 86 per cent in Jan-September
Vietnam is estimated to have posted coffee export revenue growth of 85.9 per cent on year in the past nine months of this year thanks to rocketing prices in global market, the General Statistics Office said.
In January-September, the country earned US$1.469 billion from shipping 975,000 tons of coffee abroad, up 85.9 per cent on year in value and 44.2 per cent in volume.
The export price of coffee soared between US$80 and US$100 a ton from last month to US$1,800, the highest over the past nine years, said the Ministry of Agriculture and Rural Development.
In Sept alone, Vietnam exported 40,000 tons of coffee, raking in US$67 million, the office said.
Coffee takes a lead among agro-forestry products in terms of export revenues and is one of the eight items seeing export revenues exceed US$1 billion.
This is the first time the country’s coffee export turnover is 13 per cent higher than that of rice.
The ministry forecasts that coffee exports will continue to grow as export prices are expected to keep rising. (Vietnam & World Economy Oct 3 p1, Vietnam Economic Times Oct 3 p2)
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