In August alone, 152,678 tons of coffee was sold to foreign businesses. This figure comes above the market forecasts of 100,000-120,000 tons and the official government estimates of 140,000 tons.
To some extent, Vietnam’s coffee exports in August helped balance the global market in the context of supply from Brazil was declining.
The Brazilian Coffee Exporters Council (Cecafe) reported that Brazilian exports of Robusta coffee in August dipped 90% compared to the same period last year due to severe droughts in Espirito Santo – the key cultivation area.
Thus, the country’s exports during the first eight months of this year dropped 12.6%, however, Cecafe President Nelson Carvalhaes forecast that coffee exports will rebound in the future.