Vietnam Coffee Export Falls 11% to $1.1B in Jan-Jul
Vietnam is estimated to have notched up $1.05 billion from exporting 749,000 tons of coffee in the first seven months of 2010, down 11% and 5.9% on-year, respectively, the General Statistics Office said.
In July, the country earned $137 million from shipping 90,000 tons of coffee for $137 million, equal to the previous month’s value despite a drop of 5.3% in volume, thanks to price increases.
Export prices of Vietnamese coffee rebounded to $1,666 a ton early July, from $1,278 a month earlier thanks to high global demand. At domestic market, coffee prices soared by VND5.5 million a ton to between VND29.7 million ($1,563) and VND30.5 million ($1,605).
However, the prices are unlikely to continue to rise in the coming months as the world’s major coffee producers will enter the 2010/2011 harvest crop, starting from Sept, with output being forecast to rise sharply, said the Ministry of Industry and Trade.
The world’s total coffee output is forecast to rise 11% on-year to 135-140 million bags in the 2010/2011 crop, including 86 million bags of Arabica and 54 million bags of Robusta, up 14.4% and 6.4% on-year, respectively. (GSO July Edition, Nong Thon Ngay Nay Jul 27)
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