Vietnam Eyes US$2 Bln Coffee Export Revenues Yearly
Vietnam has great potential of coffee production and will likely gain US$2 billion from coffee exports yearly, the Vietnam News Agency reported, citing analysts.
Luong Van Tu, chairman of the Vietnam Cocoa and Coffee Association (Vicofa), said joining the World Trade Organization (WTO), Vietnam has opportunity to serve five billion consumers with total expenses hitting US$635 billion annually.
He said the world coffee consumption may rise by two million bag (60kilo/bag) a year, and the volume will be 140 million bags in 2018.
Vietnam now has around 500,000 hectares under coffee cultivation, exporting 850,000 tons of coffee to 70 countries and territories worldwide yearly.
In the first half of 2008, the country&rsquos coffee export revenues surpassed US$1 billion despite a sharp fall of export volume. (VNA)
Vietnamese
