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Vietnam’s coffee exports conquer historic drought

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Vietnam’s coffee exports hit 1.27 million tons in the first eight months of 2016, increasing by 40 percent compared with the same period last year, according to data from from the Ministry of Agriculture and Rural Development.

Export value also grew by 20.7 percent on-year to reach $2.25 billion. These results have prompted the Vietnam Coffee and Cocoa Association (Vicofa) to adjust its forecast for coffee exports this year up to 1.5 million tons from the one million tons previously predicted.

Vietnam mainly exports raw coffee materials, so prices were set fairly low.