Coffee exports to enjoy robust growth ahead in fourth quarter
VOV.VN - With social distancing measures being relaxed coupled with the impending arrival of the harvest season, the local coffee industry is anticipated to enjoy strong breakthroughs in terms of exports in the final quarter of the year.
During the past10 months of the year, the country shipped 1.27 million tonnes of coffee worth US$2.42 billion abroad, a drop of 5.1% in volume but a rise of 4.1% in value against the same period from last year.
Despite being heavily impacted by the fourth wave of the COVID-19 pandemic, Vietnamese coffee export value in the third quarter grew positively in comparison to the same period in 2020 thanks to high export prices.
Statistics compiled from the General Department of Vietnam Customs indicate that Vietnamese coffee exports in the third quarter reached 334,300 tonnes, worth US$669.82 million, a drop of 14.4% in volume and 9.3% in value compared to the second quarter of the year.
Despite this, the figure represented a rise of 7.9% in volume and 18% in value against the third quarter of last year.
October alone saw the nation export 90,000 tonnes of coffee worth US$193 million, representing a decrease of 2.2% in volume but an increase of 13.7% in value compared to October last year, according to data released by the Ministry of Industry and Trade.
Vietnamese coffee exports moving forward are projected to enjoy a positive outlook as coffee growers enter a new harvest season.
Furthermore, pandemic containments efforts across the country are anticipated to help facilitate production and boost consumption activities.
Moreover, coffee export prices are likely to pick up due to concerns about supply source shortages, while free trade agreements (FTAs) are set to help boost Vietnamese coffee exports in the near future.
