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

HCM City struggles to control influx of substandard produce 1    HCM City struggles to control influx of substandard produce

High demand for farm produce and the sheer variety of ways in which it is brought into HCM City from other localities makes quality control a very difficult task, officials say.

Hoi An hosts silken rendezvous Hoi An hosts silken rendezvous

Top craftsmen and women from seven silk villages in Viet Nam will participate in the Viet Nam Silk Culture Day at Hoi An city's Silk Village centre on December 28.

Local art smashes auction record Local art smashes auction record

Days after noted Vietnamese artist Le Pho's View from the Hilltop set a new auction record, art collector Nguyen Minh still has a lingering feeling of regret.

Long Bien Bridge preservation divides planners 2    Long Bien Bridge preservation divides planners

Architecture and cultural managers discussed Long Bien Bridge's future at a seminar held on Wednesday in Ha Noi.

Malaysia crush VN in AFF semis Malaysia crush VN in AFF semis

Viet Nam suffered a nightmare yesterday at My Dinh Stadium in Ha Noi as they were knocked out of the ASEAN Football Federation-Suzuki Cup.