Vietnam Jan-Feb coffee exports likely down 18.5% y/y, rice down 31.4%

HANOI - Vietnam's coffee exports in the first two months of the year likely fell 18.5% from a year earlier to 271,000 tonnes, while rice exports likely declined 31.4% for the period, government data on Sunday showed.

Coffee

The expected drop in Vietnam's coffee exports for the first two months equals 4.5 million 60-kg bags, the General Statistics Office (GSO) said.

Coffee export revenue for Vietnam, the world's biggest producer of the robusta bean, was likely down 15.8% to $473 million for the two-month period.

Coffee shipments in February are estimated at 110,000 tonnes, valued at $193 million.

Rice

January-February rice exports are forecast to drop 31.4% from a year earlier to 638,000 tonnes. Revenue from rice exports in the period is expected to decrease 18.3% to $352 million.

February rice exports from Vietnam likely totalled 290,000 tonnes, worth $160 million.

Energy

Vietnam's January-February crude oil exports were seen down 27.1% from the same period last year to 519,000 tonnes. Crude oil export revenue in the period is expected to dive 45.7% from a year earlier to $204 million.

Oil product imports in the two months were estimated at 1.7 million tonnes, down 20.8% from the same period last year, while the value of product imports decreased 35.3% to $705 million.

The GSO trade data is subject to revision next month.