HANOI, Dec. 26 (Xinhua) -- The prices of Vietnamese coffee are forecast to continue to rise next year due to severe supply shortage, Vietnam News cited the Vietnam Coffee Cocoa Association on Tuesday.
Despite being good news to farmers, high coffee prices created difficulties for export enterprises in collecting enough coffee for their signed contracts, according to the report.
The association has estimated that the coffee shortage of signed contracts is around 80,000 to 150,000 tons, waiting for the coming harvest season to be fulfilled.
Do Ha Nam, the association's vice president, said unpredictable coffee price fluctuations caused troubles in exporting. In the 2022-2023 crops, several domestic exporters could not deliver in time, partly as an impact of hoarding.
According to the General Department of Customs, in the first 11 months of this year, Vietnam exported 1.38 million tons of coffee, worth 3.54 billion U.S. dollars. ■
