Vietnam's Coffee Exports Fall 12.2 per cent to US$1.1B in H1

Vietnam is estimated to have earned nearly US$1.1 billion from exporting 736,000 tons of coffee beans in the first half this year, down 12.2 per cent in value despite a rise of 22.3 per cent in volume against the same period last year, the General Statistics Office (GSO) reported.

 

The statistics also showed that domestic companies sold abroad 85,000 tons of coffee bean valued at US$128 million in June, representing respective falls of 7.6 per cent and 3 per cent against the previous month.

 

Global price decreases have recently pushed Vietnamese coffee prices to their lowest level since 2007.

 

Coffee prices have been sliding for the past two weeks and hit VND21,800 (US$1.22) per kilogram on June 25 in the Central Highlands province of Dak Lak, the country’s coffee hub.

 

With that price, farmers are estimated to make VND3.5 million (US$196) less in total profits this week compared to last.

 

Coffee exporters that have already bought beans, but have not yet shipped them, suffered heavy losses from the decrease. (Youth Jun 25, GSO June Edition)