During the first two months of 2010, Vietnam exported 280,000 tonnes of coffee for $411 million, down 26.78 percent in output and 12.52 percent in value.
Thus, differing from the initial estimation, Vietnam's coffee export really was gloomier compared with the same period of 2009.
Ministry of Agriculture and Rural Development had a meeting with relevant agencies to discuss the measures of supporting coffee purchase from farmers and others to boost coffee sales.
Before 2009 ended, Vietnam's coffee sector was very optimistic on the quick recovery of coffee export in 2010. But the real export was worse than prediction. Now the coffee price of Jan-February slumped by 15-25 percent year-on-year from $1,350-1,360/tonne. Within two weeks after Lunar New Year, the coffee price plunged from over $1,300 to $1,210 per tonne on February 25, 2010.
Since late 2008, the coffee price some times dropped to $1,200 per tonne fob, causing difficulties for export enterprises.
Reportedly, in 2008-2009, the country harvested total one million tonnes of coffee.
In long term, Vietnam's coffee trading floor should be put into operation soon.
Buon Me Thuot coffee exchange centre (BCEC) is preparing necessary steps to start operation of term coffee exchange in this April similar to the floors in London or New York.
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