MILAN – Coffee shipments from Vietnam rose sharply by 31.4% month-on-month to 80,372 tons in November this year, according to the latest data released by the Vietnam Customs on Monday. During January-November, the country exported 1,167,596 tons of coffee, a 25.6% decline compared to the same period last year, the Finance Ministry-run department said in its monthly report.
Shipments last month were above traders’ forecasts of around 70,000 tonnes.
The government had estimated November loading at 80,000 tonne
Vietnam will produce a record 30 million bags of 60 kilograms this year, according to Volcafe, the coffee unit of commodities trader ED&F Man Holdings Ltd.
Robusta supplies will be 2.4 million bags bigger than demand in the 2013-14 season started Oct. 1 in most countries, estimates Macquarie Group Ltd. (MQG), Australia’s biggest investment bank.
USDA’s latest report on on the World coffee markets and trade pegs Vietnam’s coffee crop at 28.5 million bags.
