.jpg "Coffee exports in July decreased by more than 15%")
(Vietnambiz)) _ According to an estimate of the Import and Export Department, coffee exports in July reached 120 thousand tons, worth $ 213 million, down 6% in volume and 2.2% in value compared to June, down 15.1% in volume and 12.3% in value compared to July 2019.
Generally for the first 7 months of 2020, coffee exports were estimated at 1.06 million tons, worth $ 1.8 billion, down 0.1% in volume and 0.6% in value over the same period in 2019. .
Average export price of coffee month 7 estimated at 1,775 tons, up 4.1% over the month 6 and up 3.3% compared to July 2019.
According to calculations from statistics of the General Department of Customs, Robusta coffee exports in the month 6 reached 109.7 thousand tons, worth $ 158.48 million, down 12.1% in volume and 14.5% in value compared to June 2019.
In the first 6 months of 2020, Robusta coffee exports reached 804.2 thousand tons, worth $ 1.19 billion, up 2.2% in volume, but down 0.7% in value over the same period in 2019. .
In which, Robusta coffee exports to many markets increased, such as: Germany increased 14.1%, Japan increased 21.6%, Algeria 4.6%, Belgium 7.7%; while exports to Italy, Spain, America and Russia… decreased.
The average export Robusta price in the month 6 reached 1,445 USD / ton, down 2.8% compared to June 2019.
In the first 6 months of 2020, the average export price of Robusta coffee reached 1,477 USD / ton, down 2.9% over the same period in 2019.
Recently, the US Department of Agriculture (USDA) has released mid-year reports on the world coffee supply-demand situation, saying that large producing countries have good seasons.
Accordingly, global coffee production in crop year 2020/21 is expected to reach a record high of about 105 million tons, exceeding demand by nearly 4 million tons of coffee.
Thus, world coffee inventories will increase to the highest level in 6 recent years, reaching 25 million tons. Large inventories and inadequate consumption will put great pressure on coffee prices.
For Vietnam, USDA forecasts production of 30.2 million bags, down 1.1 million bags from last year’s crop.
The cultivated area remains unchanged with more than 95% of the production being robusta. Rainfall from February to May is below average in many major growing areas, while coffee plants need irrigation during this period to ensure flowering and fruiting rates.
Low coffee prices make farmers less salty but in spending a lot of money in irrigation, thereby reducing productivity.
The Ministry of Agriculture and Rural Development has directed policies to maintain coffee acreage at approximately 600,000 hectares and encouraged farmers to switch to other crops where conditions are unfavorable for coffee cultivation. get high.
Over the past few years, some farmers have started planting durian, mango, avocado and fruit trees instead. Coffee exports are forecast to be flat at 24 million bags while inventories are expected to remain up.
