Coffee exports estimated at US$3 billionThursday, July 12,2018
AsemconnectVietnam - Vietnam is expected to export around 1.5 million tons of coffee with an estimated value of US$3 billion from the 2017-2018 crop, up 0.8% in volume but down 10.5% in value, according to the Vietnam Coffee and Cocoa Association (VICOFA).
In recent years, processing capacity has increased sharply from 53,565 tons in 2014 to 72,293 tons in 2015 and further, to 91,036 tons in 2016, with respective values of US$273.86 million, US$305.78 million and US$339.26 million.
VICOFA forecast that the processing volume will reach 200,000 tons in the next five years, double the current volume. The amount for domestic consumption will rise by 15%, while exports of coffee beans will drop to 1-1.2 million tons annually.
The total area of coffee plantations in Central Highlands by the end of 2017 was 98,210 hectares.
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