2014 coffee exports rise in volume, value
(VOV) - Vietnam grossed US$1.17 billion from exporting 601,000 tonnes of coffee in the first three months of the year, up 24.8% in quantity and 13.8% in value against the comparable period last year.
In other statistics released by the Ministry of Agriculture and Rural Development, Vietnam’s largest two coffee consumption markets continue to remain Germany and the US with market shares of 14.53% and 9.78% respectively.
The world’s coffee price has increased sharply in recent times due to serious droughts, leading to a decrease in output of Arabica coffee, especially in Brazil, the world’s No 1 coffee exporter.
The price of coffee in the Central Highlands in Vietnam has been hovering at a relatively high since February this year, at around VND42,000 per kilo.
Vietnam is the world’s second largest coffee exporter and the No 1 Robusta coffee exporter and exported a significantly higher volume of coffee at a high price in March.
Government economists forecast there will be a shortage of the global coffee supply source in the 2014-2015 period as Brazil’s coffee output decreased by only 51.5 million packages due to drought.
However, the price of coffee is projected to continue to rise due to the increasing demands.