Vietnam’s coffee exports in August are estimated at somewhere between 70,000 and 100,000 tonnes, or between 1.17 million and 1.67 million bags of beans, lower than last month’s figure, said traders to Reuters on August 7.
Coffee exports in July reached 110,000 tonnes, higher than their prediction of 70,000-80,000 tonnes but lower than the government’s predicted figure of 130,000 tonnes.
In the first seven months of this year, as much as 1.38 million tonnes of coffee, or 23 million bags, were exported, up 20 percent against the same period last year.
Traders said the sharp decline in Vietnam’s coffee supply prior to the new crop in October will help stabilize the world price of coffee when the favourable weather in Brazil is facilitating coffee harvest.
According to Reuters’ statistics, the price of robusta coffee beans in Dak Lak on August 7 hovered around VND43,300-43,700 (about US$2.1) per kilo, 8 percent lower than in a year earlier.
Currently, farmers in Dak Lak keep about 35,000 tonnes of coffee in stock as domestic and foreign traders claim to have enough to meet orders for delivery from August to October.