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Vietnam's 2011/2012 coffee production - RTRS

FACTBOX - Vietnam's 2011/2012 coffee production - RTRS 
 
Dec 7 (Reuters) - Vietnam's coffee output from the 2011/2012 harvest due to end next month is likely to be 9 percent higher than the previous harvest, a senior industry executive said on Wednesday. [nL3E7N73DA]

    For related preview of a coffee conference in Ho Chi Minh City, click [nL4E7N21EM]

    Here are key data and facts about Vietnam's coffee production in the current crop year  ending September 2012, which accounts for 14.5 percent of global output, based on ICO data.

    Vietnam's coffee production and exports (million bags):

    Crop year (Oct-Sept)      2011/12  2010/11  2009/10

    Planting area                    555,065  537,000

    Output    

    - Vicofa         (Dec 7)  20.83    19.17     17.5

    - ICO           (Nov 10)  18.5     19.47     18.2

    - ABN AMRO/VM   (Aug 30)  21.5     20.0      18.4

    - Reuters poll (July 21)  21.0     18.5      19.33       

    - USDA         (June 20)  20.60    18.73     18.5

    - Traders     (May 2011)  23-24    21-22 

    Domestic consumption      

    - ICO          (March 9)           1.58      1.21       

    Export                             21.17     19.97       

    (Vicofa: The Vietnam Coffee and Cocoa Association)      

      

    PRODUCTION

    The coffee crop year runs from October to September in

Vietnam, the world's second-biggest producer after Brazil.

The harvest started peaking from late November and will end

in January, before the lunar new year starts on Jan. 23, 2012. 

    About 30 to 40 percent of the harvest has been picked now, Intimex General Director Do Ha Nam said.

    The previous harvest ended in December 2010, two weeks earlier than usual, as farmers in the Central

Highlands coffee belt rushed to pick beans to catch up with good prices.

    About 80 percent of Vietnam's coffee comes from the region, which borders Laos and Cambodia to the west.

Vietnamese companies and individuals have also leased land in the two neighbouring countries to grow coffee.

    The coffee belt has five provinces: Daklak, Lam Dong, Gia Lai, Dak Nong and Kontum, with output ranking in  that order. Daklak alone produced around 6.7 million bags of coffee a year, about a third of Vietnam's total.

    Vietnam also grows catimor, a variety of arabica. Main areas include the northern province of Son La, Quang Tri province in the central region and Lam Dong in the Central Highlands.

    PRICING

    Vietnam's most common coffee export grade is robusta grade 2, 5 percent black and broken. They are often

quoted at a discount to London robusta futures as buyers want to hedge against risks in delivery timing and bean quality.

    Traders said foreign buyers were waiting for prices to fall at the harvest peak and would jump in to buy if the discount widens to $100 a tonne from $10-$40 now.

    A tonne of robusta rose to between 40.7 million dong and 41.1 million dong on Wednesday in the Central Highlands,

from 39.3-39.4 million dong a week ago, tracking London's rise on Tuesday when the January contract LRCF2 increased $4 to finish at $2,010 a tonne. [nL5E7N63QX]

    For Vietnam's latest coffee export prices: COFFEE/ASIA1.

    STOCKPILING PLAN

    Vietnamese exporters have not started buying beans under an industry-backed plan intended to stockpile more than 440,000 tonnes, or 35 percent of the country's 2011/2012 crop output.

    They have reached agreement with banks over funding, but as farmers were holding back on fresh beans, exporters have not been able to carry out the stockpiling, Nam said.

    The plan, if implemented, could help support London prices as it will reduce the outflow of Vietnamese robusta beans.

    EXPORT

    Vietnam may have exported a record 1.31 million tonnes, or 21.83 million bags, in the 2010/2011 crop.

    The figure is based on government export data for the October 2010-September 2011 crop year,plus loading volumes in October and November, before fresh supplies started hitting the market, traders said. [nL4E7MO0VH]

    The country has more than 150 export firms, but 20 companies account for the bulk of the overall export volume.

    Vietnam exports coffee to more than 80 countries and territories, with the United States, Germany, Belgium,Italy and Spain leading the top 10 buyers so far in 2011.

    Malaysia, Indonesia and China have emerged as growing markets for Vietnamese coffee, exporters said.

 (Reporting by Ho Binh Minh; Editing by Ramthan Hussain)  (( Địa chỉ email này đang được bảo vệ khỏi chương trình thư rác, bạn cần bật Javascript để xem nó )(+844 3825 9623)

(Reuters Messaging: Địa chỉ email này đang được bảo vệ khỏi chương trình thư rác, bạn cần bật Javascript để xem nó ))

 

 

 

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