Besides that, the price of raw coffee is now under VND 30,000 per kilogram.
According to the Vietnam Coffee, Cocoa Association (VICOFA), Vietnam exported 1.25 million tons of coffee with a turnover of nearly US$ 2.2 billion in the first nine months of 2019, down 12.5 percent in quantity and 20.9 percent in value compared to the same period in 2018.
Currently, the businesses reduce the number of exports because they face difficulties in coffee import and export.
The coffee price tends to continue reducing in the coming times. Therefore, VICOFA suggested that the coffee import-export businesses should consider and calculate cautiously in the business to limit the discount, enhance trading immediately, pegging prices before delivery.
The association also proposed that banks should extend the debt to farmers in the previous crops, and create conditions for businesses to borrow loan with a maximum of six months to temporarily store coffee during the beginning of the harvest season in December, 2019.
