4:18:22 PM | 29/8/2008
Vietnam may export one million tons of coffee this year thanks to upcoming bumper crop, according to the Ministry of Industry and Trade.
The Countryside Today quoted the ministry as saying that Vietnam may reap 21.5 million bags of coffee in this crop that will start late this October, an increase of 23 per cent against 2007-2008 crop.
Vietnam is estimated to have exported 728,000 tons of coffee in the first eight months of this year, raking in US$1.537 billion. The figures marked an on year decrease of 22.4 per cent in volume but up 9.2 per cent in value, according to the General Statistics Office.
The ministry said export prices of Vietnamese coffee are falling slightly. The robusta II grade is traded at US$2,070-US$2,075 a ton, down by US$70 a ton from early August, but still up by 18 per cent on year.
In 2007, Vietnam for the first time exported 1 million tons of coffee, earning US$1,529 a ton on average, raising its total coffee export revenues to record level at US$1.6 billion. (Countryside Today, GSO August Edition)
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