VIETNAM – #Coffee exports to reach 19.2 million bags in 2009

MILAN – Earnings from coffee, are forecast at US$1.6 billion in calendar year 2009, down from US$2.02 billion last year, said Vicofa in a report released on Monday.

On the other hand, volumes are seen 15% up on year at 1.15 million tons, or 19.2 million bags.

Coffee exports the first eight months of 2009 reached 800,000 tons earning US$1.2 billion, reported the trade ministry and central bank officials last Thursday. The average coffee price in the last four months of this year could fall to US$1,143 a ton, free on board, from US$1,500 a ton in the first eight months.

According to the report, coffee prices are presently at a three-year low for a number of reasons, creating many difficulties for exporters.

Coffee is Vietnam’s second-largest export earner after rice.