BUSINESS Updated at 16:15:35 01/09/2017  (Views:  266 )
Coffee exports regaining growth

Coffee exports regaining growth momentum

BTO - 1.79 million tonnes of  Vietnamese coffee were shipped abroad in 2016, its revenue of US$3.36 billion, up 33.6 percent in the volume and 25.6 percent in value comparison to the previous year. In 2015, the year-on-year decline was in both volume of 20.63 percent and value of 24.82 percent, according to the Ministry of Agriculture and Rural Development.

The total area of coffee cultivation in 2016 increased slightly, reaching 645,400 hectares. Its output was estimated at 1.47 million tonnes, up 1 percent year on year, although the yield decreased by 0.4 percent due to the effects of drought in the Central Highlands in the earlier year. 

Germany and the United States remained the two largest consumers of Vietnam’s coffee, with respective market shares of 15.2 percent and 13.1 percent. Coffee export values have reported increases in most of Vietnam’s key markets. The strong growth in markets is in Philippines (83,5 percent), in Algeria (67.7 percent), in China (49.7 percent), in the US (49 percent)…

Previously, Vietnam’s bean export to the new market enjoyed tax rate of 0%. That of processed coffee was 15 – 20 percent. Under the Free Trade Agreements (FTA), the tax for Vietnam’s processed coffee products is 0 - 5 percent, which is convenient for Vietnam’s export to the markets signing FTA.

Trang Minh (source: Binh Thuan Newspaper)

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