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Vietnam Jan-Aug coffee exports likely fell 10.3% y/y: govt

Thursday, August 29, 2019, 14:06 GMT+7
Vietnam Jan-Aug coffee exports likely fell 10.3% y/y: govt
A woman checks coffee beans that are sorted by size at a coffee factory in Hanoi, Vietnam November 22, 2016. Photo: Reuters

Vietnam’s coffee exports in the first eight months of the year likely fell 10.3% from a year earlier to 1.19 million tonnes, while rice exports likely rose 0.1%, government data released on Thursday showed.

Coffee exports from Vietnam are expected to fall an estimated 10.3% in the first eight months of this year from a year earlier to 1.19 million tonnes, equal to 19.8 million 60-kg bags, the General Statistics Office (GSO) said on Thursday.

Coffee export revenue for Vietnam, the world’s biggest producer of the robusta bean, will likely decline 20% to $2.03 billion in the eight-month period, the GSO said.

The country’s coffee shipments in August are estimated at 130,000 tonnes, valued at $220 million, it said.

Rice exports in January-August are forecast to increase 0.1% from a year earlier to 4.53 million tonnes.

Revenue from rice exports in the period is expected to drop 14.2% to $1.96 billion.

August rice exports from Vietnam, the world’s third-largest shipper of the grain, likely totalled 580,000 tonnes, worth $252 million, the GSO said.

Vietnam’s January-August crude oil exports were seen rising 0.9% from the same period last year to an estimated 2.68 million tonnes.

Crude oil export revenue in January to August is expected to fall 6.5% from a year earlier to $1.4 billion.

Oil product imports in the first eight months were estimated at 5.57 million tonnes, up 106.3% from the same period last year, while the value of product imports increased 87.8% to $2.639 billion.

Vietnam’s January-August liquefied petroleum gas imports were seen rising 16.4% from a year earlier to 1.14 million tonnes.

The GSO trade data is subject to revision next month.

Reuters

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