Coffee Export Falls nearly 10 per cent in Jan-Feb
Vietnam is estimated to notch up only US$440 million from shipping 286,000 tons of coffee abroad in the first two months of 2009, down 9.6 per cent on year in value despite an increase of 10.8 per cent in volume, the General Statistics Office said.
Decreased price of coffee on the world market was blamed for the fall in value, according to the Vietnam Coffee Corporation (Vinacafe)
Do Van Nam, general director of Vinacafe said the price is shrinking, warning farmers in central highlands region, the biggest coffee supplier in Vietnam not to sell the product en mass because it may make the price drop further.
World analysts have predicted that coffee price will stand high by the year’s end.
The Vinacafe has asked permission from the Government and Finance Ministry to support local farmers by paying 70 per cent of contract’s value in advance.
Currently, coffee is selling for VND24,000-VND25,000 a kilogram at domestic market. (GSO February 2009)
Vietnamese
