Vietnam’s coffee stocks seen at record 300,000 T

4/11/2015| 15:51

 

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HANOI: Vietnam, the world's largest robusta coffee producer, may bring forward to the next 2014/2015 crop year more than 300,000 tonnes of the beans, a record high, despite a jump in its shipments this year, traders said.

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HANOI: Vietnam, the world's largest robusta coffee producer, may bring forward to the next 2014/2015 crop year more than 300,000 tonnes of the beans, a record high, despite a jump in its shipments this year, traders said.

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imageThe carryover stocks included some 200,000 tonnes in Ho Chi Minh City-based warehouses, about 100,000 tonnes held outside the city plus a small volume kept by growers, traders at foreign firms said.

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The beans carried over are often used for loading in October and early November before harvesting of the next crop peaks from the second half of November.

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The 2014/2015 crop season begins on Wednesday and lasts until Sept. 30, 2015.

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Vietnam exported an estimated 1.64 million tonnes (27.33 million bags) of coffee between October 2013 and this month, up 15.5 percent from a year ago, based on government statistics.

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The Southeast Asian nation began the 2013/2014 coffee season ending on Tuesday with some 200,000 tonnes in stock carried over from the previous seasson, based on traders' estimates./.

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Business Recorder

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