08/05/2015 15:15 GMT+7 Email Print Like 0

Vietnam, Indonesia cooperate to stabilise coffee price

Hanoi, May 8 (VNA)- Coffee markets in Vietnam and Indonesia will flourish with the recent signing of a Memorandum of Understanding (MoU) between the Vietnam Coffee- Cocoa Association (VICOFA) and the Association of Indonesian Coffee Exporters and Industries (AEKI).

Accordingly, two nations will foster information exchanges on coffee prices in the two markets while sharing sustainable modern cultivating techniques to increase coffee productivity and grower income, VICOFA Vice Chairman Do Ha Nam said.

He highlighted that the move will help enhance cooperation with other coffee exporters worldwide, securing benefits for farmers in the two countries.

Vietnam has a total coffee cultivation area of 614,545 hectares, with 92 percent of cultivation areas located in the Central Highlands. Each year the country exports 1 million tonnes of coffee beans, generating an export turnover of more than 3.4 billion USD.

In the first four months of this year, Vietnam shipped abroad 466,000 tonnes of coffee for 970 million USD, down 41 percent in volume and 39.3 percent in value.
VNA/VNP