Gold opportunity for Vietnam's coffee export
11-JUL-2008 Intellasia | VNA
Jul 11, 2008 - 7:00:00 AM
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The country's coffee export in the first half of 2008 brought in over US$1 billion, Chair of Vietnam Cocoa and Coffee Association (Vicofa) Luong Van Tu recently reported at the conference titled "Evaluating influence of WTO entry for two-years to Vietnamese economy: Coffee, cocoa, pepper and cashew sectors" held yesterday by the Ministry of Industry and Trade.
WTO creates a huge playground for Vietnam with over five consumers, 95% of world commerce value and annual import spending of US$635 billion on average, he assessed. The world's coffee consumption demand grows by two million bags with 60 kilograms each a year. By 2018, the world's demand is forecasted at 140 million bags.
The chair said now is the gold opportunity for Vietnam made coffee.
Vietnam now has about 500,000 hectares of coffee plantation and over 70 nations and territories as buyers with an estimated import output of 850,000 tonnes a year. Last year Vietnam's coffee export reached over one million tonnes.
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