Vietnam's coffee exports slow in Q1 as domestic prices rise

Vietnamese farmers are in no rush to sell their coffee beans, resulting in a tight supply. - kinhtedothi.vn

HANOI (Xinhua): Vietnam's coffee exports in the first quarter this year edged down 1.6 per cent to 572,000 tonnes from a year ago, the General Statistics Office has said, adding that coffee export revenue for the same period reached US$1.3 billion, down 2.3 per cent on the year.

Vietnamese coffee prices surging this year, coupled with rising interest rates on bank loans, have made exporters refrain from building their stockpiles and reluctant to have contracts for delivery in the future on concerns about global price volatility, said Nguyen Xuan Hien, head of staff of the Vietnam Coffee-Cocoa Association (Vicofa).