Updated  
June, 01 2012 11:10:00

VN coffee consumption to surge

 

Instant coffee is packaged at Vinacafe Bien Hoa Co in southern Dong Nai Province. The country exported nearly 928,000 tonnes of coffee between last October and April 2012, the first seven months of the 2011-12 crop year, down 0.85 per cent from the previous season. — VNA/VNS Photo Kim Phuong
HA NOI — The US Department of Agriculture (USDA) on Tuesday forecast Viet Nam's coffee consumption in the 2012-13 crop would likely reach 1.83 million 60-kg bags, against 1.7 million bags in 2011-12.

The USDA also expected that Viet Nam, the world's largest producer and exporter of robusta beans, would gain the largest ever bumper crop in the 2012-13 period (lasting from October 2012 to September 2013) with an output of up to 22.45 million bags, an increase of roughly 7 per cent over the current 2011-12 crop (lasting from October 2011 to September 2012) thanks to higher yields and investment in production.

Coffee carry-in stocks in the current crop ending September 30 may total 510,000 bags, up 53 per cent against the previous crop, because farmers held back supplies in expectation of higher prices, the USDA said.

Viet Nam's robusta coffee last week rose to its highest price in seven months at between VND42.8 million and 43 million ($2,055-$2,064) a tonne. Strong demand for robusta, used for making soluble coffee, combined with diminishing certified stocks has kept futures prices firm since May.

Farmers in Central Highlands provinces have been expected to unload part of their remaining stocks if prices rise towards VND45 million per tonne, traders have said, adding that not many farmers were in a position to hold stocks for long.

According to the Ministry of Agriculture and Rural Development, the country exported nearly 928,000 tonnes of coffee between last October and April 2012, the first seven months of the 2011-12 crop, down 0.85 per cent from the previous season.

It is also estimated that roughly 110,000-130,000 tonnes of coffee were shipped in May, bringing the total export volume for October 2011-May 2012 to roughly 1.04 million tonnes.

The average export price of Viet Nam's robusta coffee beans for the first seven months of 2011-12 was $1,918 per tonne, a decline of 3 per cent compared with the same period a year earlier. — VNS

Send Us Your Comments:
Name:
Your E-mail address:
Title:
 

VietNamNews may edit your comments and not all emails will be published.

Highlight

PM's India visit to bolster strategic ties 4    PM's India visit to bolster strategic ties

Prime Minister Nguyen Tan Dung begins an official visit to India today, aiming to consolidate the strategic partnership between both countries and take it to new heights.

Law to ease real estate restrictions 1    Law to ease real estate restrictions

Most National Assembly members yesterday agreed that the amended Housing Law should allow more foreigners to be eligible to buy or own houses in Viet Nam.

National team in training ahead of AFC challenge 1    National team in training ahead of AFC challenge

The Japanese coach of Viet Nam's national football team, Toshyia Miura, says that fitness and tactics will be his priorities in a 10-day training camp in the southern province of Binh Duong.

Bear bile tourism shuts down in Ha Long Bear bile tourism shuts down in Ha Long

Bear bile tourism in the northern province of Quang Ninh's Ha Long City has finally been shut down, according to the non-governmental organisation Education for Nature – Viet Nam (ENV).

Artist restores traditional values through paper Artist restores traditional values through paper

Artist Phan Hai Bang, who created a very special type of paper called truc chi, is now working with his team to bring back what he calls "old values" in a really big way.