Coffee exports this year are likely to reach 1.2 million tonnes, earning the country a turnover of US$3 billion, the Ministry of Agriculture and Rural Development forecasts.
HA NOI —
|A farmer in the central province of Quang Tri harvests coffee beans. Viet Nam could earn US$3 billion from exporting 1.2 million tonnes of coffee, the Ministry of Agriculture and Rural Development claims. — VNA/VNS Photo Ho Cau |
The exports would be equal to last year's quantity but increase by 10 per cent in quality, the ministry said.
The prediction was made amid the International Coffee Organisation's pessimistic information about the global coffee production in the 2011-12 crop, which was estimated at over 132.4 million bags, down by 1.3 per cent against the previous crop.
Meanwhile, slumps in international coffee prices have also influenced domestic prices. As of late January this year, coffee prices in the central highland province of Dak Lak decreased by 3.4 per cent compared to that of the beginning of this year, reaching only VND36,800 ($1.7) per kilo .
The country generated $350 million from exporting 170,000 tonnes of coffee in the first month of this year, marking a year-on-year decrease of 21 per cent in volume and 15 per cent in turnover.
Vietnamese coffee is exported to nearly 80 countries and territories, with the US, Germany and Belgium the largest importers.
In order to ensure the sustainable development of the coffee sector, the Viet Nam Coffee and Cocoa Association chairman Luong Van Tu said coffee growers and businesses should further unite in farming, processing and price setting.
Market forecasting and analysing of market information must be improved, he said.
Nguyen Van Hoa, deputy head of the agriculture ministry's Cultivation Department, said the coffee industry should reorganise production with a focus on improving quality, and investing more in processing to add more value to the bean.
The coffee sector in the coming years must replace old trees to avoid a sharp decrease in yield, he said.
In addition, coffee production companies should try to obtain global coffee certificates such as UTZ and Common Code for the Coffee Community to increase the value of Vietnamese coffee.
Hoa said Vicofa would hold more trade promotion activities to boost exports to China, ASEAN member countries and the Middle East. — VNS