Coffee exports hit record high

Vietnam earned a record US$2.7 billion from exporting 1.2 million tonnes of coffee in the 2010-2011 crop, according to the Vietnam Coffee-Cocoa Association (VICOFA).

VICOFA Secretary General Nguyen Viet Vinh says among Vietnam’s 80 coffee importing markets, the US is Vietnam’s biggest consumer in 2011 with 140,000 tonnes, followed by the EU.

It is expected that Vietnam will export 1.1 million tonnes of coffee in 2012, accounting for 14-15 percent of global output, Vinh says, adding that the country will promote exports to Asian markets and improve the quality of products.

The Ministry of Industry and Trade (MoIT) attributes the record high export turnover to the high price of coffee, which reached US$2,210 per tonne in the first ten months of 2011, up 51.5 percent against the same period last year.

MoIT Deputy Minister Nguyen Thanh Bien has asked VICOFA to work closely with related agencies to prepare plans for coffee exports in 2012 and throughout the 2011-2015 period in order to improve businesses’ competitive edge.

Although Vietnam is now the world’s second biggest coffee exporter after Brazil, it is not on a par with its potential. Therefore, it is necessary to build strong brand names for Vietnamese coffee to ensure the sustainable development of the sector.

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