Viet Nam's coffee exports exceed expectations
Viet Nam's coffee exports exceed expectations
Viet Nam's coffee exports in August reached 2.54 million bags (152,678 tonnes), a growth of 9.2 per cent from July, according to the General Department of Customs' statistics.
This number is significantly higher than the market's expectation of 100,000 to 120,000 tonnes, as well as the government's estimated 140,000 tonnes.
Viet Nam's coffee exports from the beginning of the 2015-2016 crop has yielded 1.61 billion tones, as of today, an increase of 33 per cent compared with the same period last year.
Experts said Viet Nam's increase in coffee exports in August has contributed to balancing the market in the context of decreasing supply from Brazil, one of the largest coffee producers in the world.
According to the August 2016 monthly exports report by the Brazilian Coffee Exporters Council (Cecafe), the country's export of Robusta coffee in August had declined by 90 per cent compared with the same period last year to a mere 39,327 60kg bags.
Brazil's yield of Robusta coffee was severely affected by the drought in the state of Espirito Santo -- Brazil's main Robusta-producing region. Its coffee exports (both Arabica and Robusta) in August reached 2.4 million bags, down by 7.4 per cent from the same period last year.
Nonetheless, compared with July, coffee exports still increased by 46 per cent -- the smallest amount in a year.
Nelson Carvalhaes, president of Cecafe, predicted a gradual and sustainable growth recovery for Brazil's coffee exports.
