Coffee output to hit a record of 1.32 million tonnes

(VOV) – Vietnam’s coffee output is likely to reach 1.32 million tonnes in the 2011-2012 crop, thanks to favourable climate conditions and expanded cultivated areas, according to Bloomberg.

The Ministry of Agriculture and Rural Development said that coffee-growing acreage has increased by 1.8 percent to 548,200 hectares.

Bloomberg forecast that Vietnam’s coffee exports will rise sharply and prices will continue to fall by 23 percent compared to the highest level in March due to more supply than demand.

The price of robusta coffee rose to US$2,672 per tonne on March 18 at the London International Financial Futures and Options Exchange (LIFFE) – the highest over the past three years. However, it hit a record low of US$1,996 per tonne on July 21 and then dropped to US$2,043 per tonne on September 23.

Tags:

Posted by VBN on Sep 26 2011. Filed under Agriculture. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

You must be logged in to post a comment Login

Stay informed everyday

Subscribe to free RSS and email updates from Vietnam Business News

Subscribe via Email Subscribe in a Reader Follow us on Twitter Connect on Facebook

RSS China Business News

  • Silver tumbles on profit-selling, gold price steady
  • Rising gold prices are worrying gold leaf makers in Thailand
  • Thailand, Bolivia and Russia boost gold reserves
  • After gold prices fall, goldsmiths take to adulterating
  • Has gold been trumped?
  • Turnover, volumes of gold decline, silver shines
  • Gold ends quarter with 8 per cent gain
  • Tanzanian gold exports increase by 13% to $1.7 billion

Sponsored

  • Looking for an overseas forex broker?
  • Trading Point now offering Forex Malaysia and FX Japan with Forex, CFD's and Futures.