Coffee exports to hit $1.6 billion

Vietnam aims to export US$494 million worth of coffee in the four remaining months of 2009 to raise its yearly coffee export earnings to US$1.6 billion, according to the Department for Export and Import under the Ministry of Industry and Trade.

The department says that the Belgian market, which consumed the most exported Vietnamese coffee in the first months of the year, has imported significantly more coffee from Vietnam than in 2008.

Vietnam is expected to yield about one million tonnes of coffee in its next crop.

Enterprises suggest a financial mechanism be worked out to allow them to borrow capital at zero percent interest so that they can buy between 150,000-200,000 tonnes of coffee from farmers.

vov

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