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Coffee export forecast slashed to less than one million tonnes
The country's coffee export volume this year could be lower than one million tonnes for the first time in many years due to decreasing supply, the Ministry of Agriculture and Rural Development has forecast.
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| Vinacafe Bien Hoa Joint Stock Co produces coffee for export. Export turnover is expected to reach only US$2.2 billion against the predicted $3 billion. |
In its latest report, the ministry cut the annual coffee export projection for this year to 985,000 tonnes from the previous 1.18 million. Export turnover is expected to reach only US$2.2 billion against the predicted $3 billion. The latest forecast is also lower than last year's $2.75 billion.
According to the Viet Nam Coffee and Cacao Association, the country has completed the harvest of its 2011/12 coffee crop with yield estimated to be lower than previously forecast.
Unfavourable weather conditions at the end of last year was also expected to negatively influence coffee yield and quality in 2012/13, the association said.
It added that a growing area of old and stunted coffee trees, which account for roughly 30 per cent of the country's total coffee crop, would also cause coffee output to drop by roughly 15-20 per cent.
Coffee producing countries worldwide have been hit by reduced yields. According to the International Coffee Association, the world's total coffee output in 2011/12 was estimated at 130.9 million bags, down 2.4 per cent over the previous year due to bad weather.
Viet Nam exported an estimated 180,000 tonnes of coffee last month, up 25 per cent against the same month last year, the General Statistics Office reported.
The office revised January exports to 112,000 tonnes from the previous 130,000, a plunge of nearly 48 per cent against the same period last year due to the Lunar New Year festival, a decreasing sales volume and expected price hikes.
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