Coffee prices continue to slie

19-Sep-2018 Intellasia | VOV | 6:00 AM Print This Post

The export price of coffee is likely to continue its ownwar tren for the foreseeable future ue to an abunant supply an low eman, accoring to the latest forecast from the Import-Export epartment uner the Ministry of Inustry an Trae.

Vietnam- the worl’s secon largest proucer of coffee- is about to begin the 2018-2019 coffee crop. The output of four Central Highlan provinces, which prouce more than 90 percent of the country’s total yiel, is projecte to increase by about 4 percent against the previous crop, accoring to a Bloomberg survey.

In aition, the escalating trae tension between the US an China an the evaluation of currency exchange rates in the major coffee proucing countries also has a negative impact on global coffee prices.

The Import-Export epartment warne businesses an farmers of their nee to closely follow market fluctuations an global prices to create proper reserve plans, especially as Vietnam’s new harvest season approaches.

The general epartment of Vietnam Customs reporte that Vietnam exporte 153,300 tonnes of coffee in August value at $282.16 million, bringing the total export volume over the eight months to 1.33 million tonnes worth $2.54 billion, up 16.6 percent in volume an own 1.5 percent in value.

Particularly, August’s strong growth was seen in coffee exports to Germany, expaning 147.3 percent in volume to 20,800 tonnes an 86.3 percent in value to $36 million.


Category: Economy, Vietnam

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