By Marvin G. Perez
(Bloomberg) --
Output may slide following an 8% drop y/y in 2020-21 season ended in September with an aging tree population affecting yields, Luong Van Tu, chairman of Vietnam Coffee Association, says during industry webinar.
He didn’t give specific figures, and says country needs to replace old plants
Growers haven’t had enough money to invest in farms and financing has been difficult to obtain in recent years, while other crops are offering better opportunities, he says
The world’s biggest producer of robusta coffee has also been plagued by surging fertilizer and freight costs amid pandemic disruptions
Social distancing boosted labor costs as well, he says
Coffee shipping from Vietnam to ports in Europe taking as long a month and half from the typical one month, and is more expensive
NOTE: Vietnam coffee exports fell 6.9% in November y/y; down 4.4% since January
Robusta coffee futures surged 66% this year in London
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Vietnam Commodity Exports in Nov.: Coffee Shipments Rise
By Mai Ngoc Chau, Nguyen Xuan Quynh and Nguyen Dieu Tu Uyen
(Bloomberg) --
Nov. coffee exports seen at 107,473 tons, up 8.3% m/m, General Department of Vietnam Customs says in statement.
NOTE: +28.3% y/y based on Customs’ finalized data on year-ago shipments of 83,738 tons
11-month shipments seen at 1.4m tons, down 2.3% y/y
NOTE: Vietnam is world’s largest producer of robusta beans
Rice
Nov. rice exports seen at 566,358 tons, down 8.4% m/m
NOTE: +61.1% y/y based on Customs’ finalized data on year-ago shipments of 351,465 tons
11-month shipments seen at 5.75m tons, up 0.8% y/y
NOTE: Vietnam is world’s second largest exporter of rice
Rubber
Nov. rubber exports seen at 211,271 tons, up 3.2% m/m
NOTE: -2.4% y/y based on Customs’ finalized data on year-ago shipments of 216,509 tons
11-month shipments seen at 1/7m tons, up 11.9% y/y
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