Coffee export likely to hit over USD3 billion

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As of August 2016, export of the commodity reached 1.27 million tonnes and USD2.25 billion, up nearly 40% in volume and 20.7% in value over a year earlier, according to the Ministry of Agriculture and Rural Development.

Average export coffee price in the first seven months of the year was USD1,754 per tonne, a year-on-year decrease of 14.5%. Germany and the US continued to be the country’s two biggest coffee consumption markets during the period, with 15% and over 13%, respectively.

In spite of coffee export turnover from the start of the year rising sharply compared to the same period last year, the commodity was mainly exported raw, with low increase in value.

Big problems for the country’s coffee sector include weak management of food safety and hygiene quality, while few enterprises and processors have a trademark registered for their business.

Aiming to facilitate the development of prestigious coffee roasting establishments, the Vietnam Coffee and Cocoa Association recommended tightening the management of food safety and hygiene quality nationwide in the near future./.