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Ministry needs 32.8 trillion VND for coffee bean   2008-09-08 - VNA

The Ministry of Agriculture and Rural Development estimated that around 32.8 trillion VND will be needed to enhance competiveness of Vietnamese coffee at local and global markets to 2015.

According to Deputy Minister of Agriculture and Rural Development Diep Kinh Tan, the sum will be invested mainly in infrastructure, trade promotion, new farming techniques, and international standard production lines.

The goal is to have 50-70 percent of Vietnamese coffee beans to be traded at international transaction floors and 10-15 percent to be consumed locally by the set year, said Tan.

With a coffee-growing acreage of 450,000-500,000 ha giving a total yield of around 1 million tonnes, Vietnam has been exporting 850,000 tonnes of coffee beans to more than 70 countries and territories every year.

The figure reached more than 1 million tonnes in 2007. In the first half of this year, the country earned more than 1 billion USD from coffee exports.

It is forecasted that the world demand for coffee will increase by 120,000 tonnes a year to 8.4 million tonnes by 2018.

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