Coffee exports drop sharply
(VOV) -Vietnam has exported 1.18 million tonnes of coffee since October 2012, representing a year-on year decrease of 9 percent.
According to the Vietnam Coffee and Cacao Association (Vicofa), the total coffee output in 2013 will drop by 30 percent to about 1.3 million tonnes.
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In the first six months of this year, 795,000 tonnes were shipped abroad, which is 24 percent less than the previous six months.
In the reviewed period, Vietnam exported coffee to 30 countries around the world, mainly to the US and Germany, reported Vicofa.
Vicofa has asked the Government to provide local exporters with incentive loans to buy 200,000 – 300,000 tonnes of coffee for reserves as global coffee prices are currently experiencing a sharp decline.
In the Central Highlands, Vietnam’s largest coffee growing area, coffee prices are hovering around VND37,200 – 37,500 per kilogram, much lower than the trade price in the same period last year, which wasVND46,000 per kilo.