2:26:04 PM | 31/7/2008
Germany has become the second biggest coffee importer of Vietnam, the Dau Tu Tai Chinh (Financial Investment) newspaper said.
Last year, the western European country imported 234,000 tons of Vietnamese coffee out of 1.1 million tons it imported. The newspaper did disclose the comparative figure.
Vietnam is targeting US$2 billion coffee export revenues this year, Luong Van Tu, chairman of the Vietnam Cocoa and Coffee Association (Vicofa) said, adding the global coffee demand will increase by two million 60-kilogram bags a year.
In the seven months this year, Vietnam shipped abroad 662,000 tons of coffee, or 11 million 60-kg bags of coffee valued at US$1.383 billion, down 26 per cent on year in terms of volume but up 3.8 per cent in terms of value, General Statistics Office said.
Currently, Vietnamese 5 per cent broken robusta coffee of class 2 is trading at US$2,145-US$2,150/ton, FOB, for spot delivery contracts.
Vietnam now has around 500,000 hectares under coffee cultivation, exporting 850,000 tons of coffee to 70 countries and territories worldwide yearly. (Financial Investment)
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