Roundup: Bumper harvest places Vietnam world's top coffee exporter so far this year
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E-mail Xinhua, October 4, 2012
Roundup: Bumper harvest places Vietnam world's top coffee exporter so far this year
HANOI, Oct. 4 (Xinhua) -- The ever highest output of the recent coffee crop in Vietnam with over 1.6 million tons worth more than 3 billion U.S. dollars helped the country maintain its rank as the world's top coffee exporter so far this year, reported the Vietnamese Ministry of Agriculture and Rural Development (MARD) on Thursday.
According to the report, Vietnam harvested 1.6 million tons of coffee grains from the 2011-2012 crop (which lasted from October 2011 to the end of September 2012), the ever highest coffee output so far in the country. That figure was equal to 26.7 million bags, much more than both domestic and foreign estimation of 23 million bags. In addition, according to a recent survey by Reuters, coffee inventory stored by Vietnamese individuals and businesses is about 100,000-150,000 tons, which would increase the country's total coffee productivity to about 1.7 million tons.
According to MARD, the country exported 96,000 tons of coffee in September, earning 171 million U.S. dollars, pushing the 9- month coffee export to 1.36 million tons, worth 2.85 billion U.S. dollars, an increase of 36.8 percent in volume and 29.8 percent in value year-on-year. That surpassed last year's total figures of 1. 2 million tons and 2.7 billion U.S. dollars, respectively.
Meanwhile, the Vietnam General Statistics Office reported that during the 2011-2012 crop, the country was able to export 1.6 million tons of coffee and pocketed 3 billion U.S. dollars, 300 million U.S. dollars more than the previous crop or up 11 percent.
During the 9-month period, Germany was Vietnam's biggest coffee importer, accounting for 12.3 percent of the country's total coffee exports, followed by the United States with 12.2 percent.
Meanwhile, export to Indonesia made a rapid growth, with year- on-year increase of nine times, both in volume and value, over last year.
China's consumption of Vietnamese coffee also witnessed a strong increase. According to the Chinese Coffee Association, during 2007-2011, China imported 137,000 tons of coffee from foreign countries, of which 103,900 tons were from Vietnam. In the first half of 2012, China imported 15,000 tons of Vietnamese coffee, worth 31.88 million U.S. dollars, reported MARD.
Farmers in southern Dong Nai province, 1,120 km south of capital Hanoi, began to harvest their coffee one month earlier this year, which will supply more to the country's coffee for export.
However, according to the Vietnam Coffee and Cacao Association (Vicofa) the country's coffee output of the 2012-2013 harvest would likely decrease about 15-20 percent due to the unexpected change of the weather and the increasing number of old and stunted coffee plants.
Last week, the global Robusta coffee price reached 2,188 U.S. dollars per ton for the delivery in November this year, an increase of 58 U.S. dollars or 2.56 percent. The price will increase to 2.201 U.S. dollars per ton upon delivery by January 2013, an increase of 57 U.S. dollars or 2.59 percent.
Meanwhile, domestic Robusta coffee grains are currently purchased for processing at 7.8-8 million VND (374-383 U.S. dollars) per ton, the highest level since the beginning of this year. Enditem
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