Coffee exports end 2014 on high note

In 2014, Vietnam exported more than 1.7 million tons of coffee, an increase of 33% in volume, with an average price of US$2,086/tonne per ton, 2.46% lower than 2013. US was the largest importer, accounting for 11.7%, followed by Germany (10.1%).

Vietnam has become the world’s second largest coffee producer and exporter, trailing Brazil, making up 19% of the global market, up 21.3% from 2013. In the local market, the price of coffee was only VND30.700 per kilo.

Vietnam Coffee – Cocoa Association (Vicofa) predicts that in 2015, output would decrease 20-25% compared to the 2013-2014 period as Arabica coffee drops 30% and Robusta coffee in the Central Highlands has been hit by severe drought. Market analyst Nguyen Quang Binh expressed that the coffee prices would not increase sharply as there are huge coffee stockpiles.

Vicofa President said local businesses would face tough competition from regional nations in terms of price and volume due to free trade agreements (FTA) and ASEAN Economic Community (AEC).

(VBN)