Vietnams Coffee Exports Down 26 per cent in Jan-July

Vietnam’s exports of coffee decreased by 26 per cent on year to only 662,000 tons in the first seven months of 2008, latest report from the General Statistics Office (GSO) showed.

 

The report said the exports brought in US$1.383 billion revenues to Vietnam in Jan-Jul period, a slight rise of 3.8 per cent against the same period of 2007.

 

Vietnam has recently set the target to become the world leader in the coffee market, based on its two advantages: it retained the world’s largest output of robusta coffee and the world’s lowest production cost.

 

In addition, World Trade Organization membership has substantially increased the opportunities for Vietnam’s coffee trade, giving it access to over five billion customers.

 

“Accession to the WTO has given the country a golden chance for coffee exports, as the organization represents 95 per cent of the world market and has an import turnover of US$635 billion per year,” president of Vietnam Cocoa and Coffee Association (Vicofa) Luong Van Tu said.

 

Vietnam has exported 850,000 tons of coffee beans to more than 70 countries and territories every year. The figure reached more than 1 million tons last year, equivalent to over US$1.6 billion. (GSO July Edition)