EU Increases Purchases Of Vietnamese Coffee
From: vietreader.com
According to statistics from the Department of Agro-Processing and Market Development under the Ministry of Agriculture and Rural Development, an estimated 120,000 tonnes of coffee were exported in July with a value of US$213 million. This brings the volume and value of coffee exports during the first seven months of the year to 1.06 million tonnes worth US$1.8 billion, a fall of 0.1% in volume and 0.6% in value from the same period last year.
Luong Van Tu, chairman of the Vietnam Coffee – Cocoa Association, said that the EU represents the second largest market for Vietnamese coffee and accounts for over 42% of domestic coffee exports. Despite the impact of the novel coronavirus still causing numerous difficulties for the local economy and consumption, bread, milk, and coffee are still popular items with high levels of consumption among the EU. Therefore, along with the foundations put in place by the EU-Vietnam Free Trade Agreement, the coffee industry will be able to add value in the near future.
