Vietnam June coffee exports jump 21.2pc y/y
The estimate is above trader forecasts, which projected the monthly shipment to dip to between 65,000 tonnes and 80,000 tonnes from the export volumes in previous months of 2011.
Coffee shipments in May were revised down to 98,000 tonnes, or 1.63 million 60-kg bags, down 1.5 percent from a year ago, the ministry said in a weekend report, in line with customs data.
It previously estimated May loading at 113,000 tonnes.
Coffee exports between October 2010 and June 2011, the first three quarters of the 2010/2011 crop year, would reach an estimated 20.05 million bags, the ministry said in a weekend report, up 28.7 percent from the previous year.
The coffee crop lasts between October and September in Vietnam, the world's second-largest producer after Brazil. One bag contains 60 kg of coffee beans.
Rising coffee exports from Vietnam, where the next harvest is due to start in November, means the country's remaining stocks are thinning faster, making it hard for shippers to secure beans for loading.
Premiums for robusta skyrocketed in Asia last week as a supply scarcity worsened, with Indonesian beans changing hands at $200 above London futures and Vietnamese coffee at $150 premiums, raising fears of more delays and even default, dealers said.
On monthly basis, the export data from the agriculture ministry could be slightly different from those by the government's General Statistics Office, which is due to release figures for May and June later this week.
Between January and June, Vietnam's coffee export generated $1.99 billion, a jump of 116 percent from a year ago, the farm ministry's report said.
"Coffee export prices are in a trend beneficial for growers," it said, noting that Vietnam's average export price stood at $2,184 a tonne, free-on-board, in the first five months ended May, up 1.6 times from a year ago.
On Monday robusta prices stood at 48.8 million to 50 million dong ($2,363-$2,421) per tonne in Daklak, Vietnam's top growing province, having soared 73 percent from the same time last year.
Liffe September robusta coffee ended up $103 at $2,319 a tonne last Friday. Prices rebounded strongly after sliding to the lowest level in almost five months during the previous session, boosted mainly by technically driven buying.
Copyright Reuters, 2011