BMI upbeat about Vietnam’s coffee and dairy sectors

Business Monitor International (BMI) is optimistic about the prospects for Vietnam’s coffee and dairy production sectors.

In its 3rd quarter report on Vietnam’s agricultural sector, BMI forecasts that by 2014, the country’s coffee production would grow by 23 percent and milk production by 41 percent compared to 2009.

The report also predicts increases of 33 percent, 31 percent, and 21 percent in poultry, pork, and beef production, as well as an 18 percent rise in rice production, by 2014.

The Vietnamese government has shown its commitment to improving the quality of raw coffee and supporting exports by recently purchasing a large amount of coffee for reserves, says the report.

BMI attributes the rapid growth of Vietnam’s dairy sector to a project on dairy farming and milk-processing in central Nghe An province. The project includes the construction of a 10,000 hectare dairy farm for 45,000 head of cattle at an estimated cost of US$100 million to serve a processing factory, with a designed capacity to produce 530 million litres of milk per year. This is the largest milk-processing factory in Vietnam.

BMI also forecasts a GDP growth of 4.4 percent, a consumer price index of 10.2 percent, and a population of 89.2 million in 2010.

Tags: Vietnam Coffee, Vietnam Dairy sector

Posted by VBN on Jun 4 2010. Filed under Agriculture, Food & Beverage. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry