ID :
66530
Fri, 06/19/2009 - 09:12
Auther :

Coffee companies should invest in more processing technologies

HCM City (VNA) – Coffee companies should invest in more processing technologies to
add value, the Vietnam Coffee and Cacao Association (Vicofa) said.

“Most processing plants in Vietnam just classify and polish the beans, as a
result of which the country does not earn must profit from export of the beans
despite being one of the world’s largest exporters,” it said.

Regarding coffee export contracts in the remaining months of the year, Vicofa has
also recommended its members to keep a close eye on the world market to avoid being
pressed with prices.

From the plant until it reaches the cup, coffee goes through a clutch of other
processes like sorting by colour, roasting and grinding, which few companies in
Vietnam undertake.
According to the Ministry of Agriculture and Rural Development figures, 645,000
tonnes of coffee were exported in the first five months of the year for 963
million USD.

This represents a 21.6 percent increase in volume over the same period last year but
12.1 percent fall in terms of value.

The biggest buyers of Vietnamese coffee are the US , Belgium , Germany , Spain ,
Italy , France , Japan and the Republic of Korea .

The price of coffee at the Buon Ma Thuot Coffee Exchange has been rising this month,
going up 1,570 USD a tonne.

This represents an increase of 120 USD a tonne from last month but a contraction of
more than 400 USD from the same time last year.-Enditem

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