December 07, 2019 19:21

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Coffee exports plummet in first half

13:05 | 02/07/2019

Vietnam’s coffee exports suffered a remarkably drop, in terms of both volume and value during the first half of the year, according to the General Department of Vietnam Customs.

coffee exports plummet in first half

As a result, Vietnam exported 75,000 tons of coffee with a value of US$124.66 million during the first half of June.

The country also shipped a total of 851,700 tons of coffee worth more than US$1.454 billion abroad between the beginning of the year and mid-June. These figures represent a decrease of 11.2 per cent in volume and 21.5 per cent in value in comparison with the same period last year.

The average export price of coffee during the first half of June fell 13.2 per cent to US$1,662 per ton compared to last year’s corresponding period.

From the beginning of the year until mid-June, the average export price also suffered an 11.6 per cent drop to US$1,708 per ton.

The prices of coffee worldwide also declined due to an abundant supply. This coincides with consumption demand being low in the global market, largely due to major markets in the northern hemisphere enjoying summer.

The choices made by consumers are also changing, with global consumers more likely to purchase high-quality coffee products, particularly specialty coffees.

The Import-Export Department under the Ministry of Industry and Trade said that these trends have forced coffee producers to improve their post-harvest processing technologies.

According to the International Coffee Organization (ICO), exports of global Robusta coffee in the 12 months leading up to the end of April 2019 rose by 2.2 per cent to 45.36 million bags in comparison with the previous crop.

In the domestic market, the price of coffee beans ranged between VND32,900 and VND34,000 per kilo.

For example, the price of coffee in Bao Loc district in the central highlands province of Lam Dong was at VND32,900 per kilo, whilst the price in the districts of Di Linh and Lam Ha was VND33,000 .

Source: VOV