Coffee exports this year are likely to reach 1.2 million tons, earning the country a turnover of US$ 3 billion, the Ministry of Agriculture and Rural Development forecasts.
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 Organization’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 tons 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.