Vietnam may see record coffee exports

Drought impact: A farmer surveys his coffee plantation in Hanoi. Average prices last week surged around 44% year-on-year in the Vietnam’s largest coffee farming central highlands. — dpa

HANOI: Vietnam expects its coffee exports this year to hit a fresh record high as global production will fall short of demand, resulting in soaring prices amid El Nino-induced extreme weather conditions, Vietnam News Agency reports.

“The now-widely expected transition to El Nino conditions in the third quarter of 2023 has fuelled fears of reduced production in Vietnam and Indonesia, both major robusta coffee producers,” Fitch Solutions’ research unit BMI said in a report dated May 24.