Vietnam is estimated to export 281,000 tons of coffee valued at US$508 million in the first two months of this year, representing on year decreases of 5.3 per cent in terms of value and 24.2 per cent in terms of volume, the General Statistics Office (GSO) said.
In February, the country exported 110,000 tons, valued at US$199 million, down by 35.7 per cent in volume and 35.6 per cent in value against January, or from 171,000 and US$309 million.
Coffee prices of Vietnamese coffee have sharply soared at both foreign and local markets since the beginning of this year.
According to the Trade Information Centre under the Ministry of Industry and Trade, exports prices of Vietnamese coffee were average at US$1,807 a ton in January, up 5 per cent from previous month and 25.8 per cent from January of 2006.
The prices are now jumping to US$2,080 or US$2,110 a ton, up nearly 40 per cent from the same period of last year.
At local markets, coffee prices are now hitting VND40,000 a kilo in central highlands region, the Vietnam’s coffee hub, the highest level over the past 12 years and nearly doubling that early this month.
Sharp decreases by 20 per cent in coffee production due to unfavorable weather in Vietnam and Brazil, the world’s two biggest coffee suppliers, are recognized as the major reason the price hikes.
Analysts predict the prices will continue rising in the near times because of weak supplies. (GSO February Edition, Vinanet)
Vietnamese
