Coffee export price is lowest in recent ten years
The price of Vietnamese coffee exports has continuously dropped in recent time and currently is around US$ 1,200 a ton which is lowest in the past ten years, causing difficulties for enterprises and farmers.
Besides that, the price of raw coffee is now under VND 30,000 per kilogram.
According to the Vietnam Coffee, Cocoa Association (VICOFA), Vietnam exported 1.25 million tons of coffee with a turnover of nearly US$ 2.2 billion in the first nine months of 2019, down 12.5 percent in quantity and 20.9 percent in value compared to the same period in 2018.
Currently, the businesses reduce the number of exports because they face difficulties in coffee import and export.
The coffee price tends to continue reducing in the coming times. Therefore, VICOFA suggested that the coffee import-export businesses should consider and calculate cautiously in the business to limit the discount, enhance trading immediately, pegging prices before delivery.
The association also proposed that banks should extend the debt to farmers in the previous crops, and create conditions for businesses to borrow loan with a maximum of six months to temporarily store coffee during the beginning of the harvest season in December, 2019.
Related news
Cần Thơ targets agricultural growth of 3.2 per cent per year The Mekong Delta city of Cần Thơ targets an agriculture growth rate of 3.5 per cent each year in the 2018-20 period and 2.5 per cent in the 2021-30 period
Farm produce exports to China remain unstable Although China is a major buyer of Vietnamese agricultural products, Vietnam’s farm produce exports to the Chinese market still face multiple challenges
A new platform for fruit picking The use of picking platforms for fruit tree management and harvesting is still relatively new in South Africa. Thomas Babl, who has been using the technology
Vietnam to become global processing hub of farm produce Vietnam has a lot of potential and opportunities, especially during the Fourth Industrial Revolution, to become a global processing hub of agricultural products
Vietnam struggles to export fruits to demanding markets Vietnam has exported its fruits to high-standard markets in recent years, such as the US, the European Union and Japan, but increasing export volume