The country exported 802,000 tonnes of coffee in the period, earning 1.19 billion USD a year-on-year increase of 19.1 percent in volume but a year-on-year decline of 15.7 percent in value.
The decline in value was mainly due to falling world prices. Vietnam& # 39;s export contract prices were down by 200 USD to 1.251-1,281USD per tonne in July.
However, forecasters have tipped world prices to increase at the end of the 2008-09 coffee crop when supply would decline while consumption would remain stable.
Vietnamese coffee exporters are advised to store their coffee and delay signing export contracts until the price improves.
Luong Van Tu, chairman of the Vietnam Coffee and Cacao Association, said exporters should not sign contracts with a delivery date too far into the future.
Exporters often sign export contracts six to seven months before delivery, by which time the market often changes, he said. Three months are the maximum.
Also, Tu said, exporters should cooperate to fix the volume of coffee exported each month so as not to flood the market and drive prices down.
Vinanet
