Vietnam 2008 Coffee Exports Likely Down 16.2%
The Viet Nam Coffee and Cocoa Association said Friday coffee exports are expected to fall by 16.2% to 1 million metric tons this year.
Coffee export revenue, however, is expected to rise 8% to more than $2 billion, said Doan Trieu Nhan, a senior advisor to the association.
“The rise of coffee prices in the early months of the year has contributed to the rise in revenue,” Nhan told Dow Jones Newswires.
The coffee export market probably won’t improve in 2009 he said, citing the ongoing global financial turmoil, falling prices and speculative trade.
The Ministry of Trade and Industry has forecast Vietnam will export 950,000 metric tons of coffee in 2009, earning $1.92 billion, he said. (Dow Jones)
