Sunday, August 26, 2007

Vietnam to post bigger coffee export revenues in 2007

Vietnam is expected to gain coffee export turnovers of 1.5 billion U.S. dollars this year, up from 1. 1 billion dollars last year, according to local trade agency on Friday.

The hike is attributed to higher coffee prices in the world market, which stands at 1,430 dollars per ton on average in 2007, compared with 1,066 dollars in 2005, said the Trade Information Center under the Vietnamese Ministry of Trade and Industry.

Vietnam, the world's second biggest coffee exporter after Brazil, is diversifying coffee products for export, partaking more actively in international coffee trading floors, and applying more advanced farming and processing techniques.

The country shipped abroad 893,000 tons of coffee worth over 1. 3 billion dollars in the first seven months of this year, posting respective year-on-year surges of 56.6 percent and 102.1 percent.

Source: Xinhua