Coffee exports reach almost US$2 billion

Coffee industry is quite capable of raising its export turnover to more than US$2 billion a year, according to many experts at a conference in Hanoi on July 9.

The Viet Nam Coffee and Cocoa Association’s Chairman Luong Van Tu said the world’s demand for coffee will increase by about 2 million 60-kilogram bags a year and Viet Nam will have a good chance to supply coffee to over 5 billion consumers in the world market, who spend an average US$635 billion a year.

Vietnam’s coffee plantations now cover 500,000ha and they can export coffee to 70 countries and territories worldwide at an average amount of 850,000 tonnes a year. In the first half of this year, its export value reached US$1 billion.