Vietnam's coffee exports are forecast to rise 18.2 percent in December from a year ago to an estimated 130,000 tonnes or 2.2 million bags, the government's statistics office said on Thursday. It also raised the coffee exports of last month, saying actual shipments were 71,000 tonnes, or 1.2 million 60-kg bags, up from 50,000 tonnes previously estimated.
The data comes as Vietnamese farmers have nearly finished harvesting the current crop in the main growing region. December's shipment has brought coffee exports from Vietnam, the world's second-largest producer after Brazil, to 4 million bags during the three months ending December under the 2008-2009 crop year, up 8.6 percent from the same period last season.
Vietnam's coffee crop year lasts between October and September, starting with a four-month harvest. December's coffee exports meant Vietnam shipped 16.74 million bags in the calendar year 2008, down 18.4 percent from last year. Coffee revenues this year rose 5.8 percent to $2.02 billion, making it the second-largest foreign exchange earner among Vietnam's agro-products for export after rice, which has nearly doubled to $2.9 billion, the government said.
Average export price this year rose 29 percent from last year to $2,014 per tonne, free-on-board basis. The Industry and Trade Ministry has projected coffee exports in 2009 at 1.1 million tonnes, while it said the average export price could fall to $1,700 a tonne. The lower price could be in place as world coffee output in 2008-09 is expected to rise 14.8 percent to about 132.5 million 60-kg bags.