Vietnam Ministry Up Forecast about Coffee Export in 2010

The Ministry of Agriculture and Rural Development has revised its forecast about Vietnam’s total coffee export volume in 2010 up to 1.1 million tons from previous 1.065 million tons. The exports are expected to bring in revenues of US$1.67 billion, according to the ministry.

 

Meanwhile, local farmers worried about a decrease in coffee output in the 2010-2011 crop which starts from Oct as diseases and worms are damaging their plant.

 

Local traders said up to a third of Vietnam's coffee shipments expected for Sept will likely be delayed as domestic stocks have run out after sales soared on good prices in July.

 

The traders were cited by Reuters newswire as saying that exporters might delay loading 10,000-20,000 tons of the 60,000-75,000 tons expected to be shipped this month, after Aug loading surged 57.4% from a year earlier to 85,000 tons.

 

“There are no beans left to buy even if we offer very high prices because farmers sold when prices were good in June and July,” an exporter in the top coffee growing province of Dak Lak said.

 

Vietnam exported 835,000 tons of coffee worth US$1.195 billion between Jan and Aug, down 2% and 5% on-year, respectively. (vneconomy.vn)