Coffee prices to be stable in 2010 - 2011 crop
By the end of September 2010, coffee growers in the Central Highlands, Vietnam’s largest coffee-growing area, sold their beans harvested in the 2009-2010 crop for VND 31,000 per kg - the highest price recorded in the past two years. According to the Vietnam Coffee and Cacao Association (Vicofa), although the output of a large coffee-growing area in Vietnam which is currently the world’s second largest coffee exporter is likely to be affected by dry October weather and ageing, the International Coffee Organisation (ICO) has forecast that the world’s coffee output in the 2010-2011 crop is likely to reach 133 million 60-kg bags, a rise of 7 million bags compared with the 2009-2010 crop. Vietnam shipped abroad 925,000 tonnes of coffee beans for 1.32 billion USD over the past nine months, which represented rises of 4.2% and 0.9% in terms of volume and value year on year. Vietnam’s largest coffee market is Germany, accounting for 13.5% of total export volume, followed by the US, which occupies 12.7% of Vietnam’s coffee exports. (VNA) |
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