Friday 09 December 2022

Vietnam’s export up 8 percent in last month

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MILAN – Vietnam, the world’s top Robusta producer, exported 96,000 tons (1.6 million 60-kg bags) of coffee in November, an 8 percent increase from the previous month, according to customs data released on Tuesday. This is lower than the government’s estimate of 100,000 tons.

December coffee exports are expected at 100,000-120,000 tonnes, traders said. Exports declined 27 percent in the first 11 months of the year to about 1.16 million tons, the lowest since 2010, according to the same source.

About 32 percent of the 2015-16 crop was collected in October and November, according to the median of eight estimates from traders surveyed by Bloomberg.

That compares with 41 percent a year ago and a five-year average of about 38 percent, the survey showed. Output is forecast at 1.65 million metric tons, 3.1 percent higher than the 1.6 million tons in the last crop year.

Farmers held 275,000 tons at the end of September, or 17 percent of the last harvest, according to a Bloomberg survey in October. That compares with 70,000 tons, or 4 percent, a year earlier.

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