Vietnam Expecting Boost to Coffee Exports
Vietnam is readying for a boost to its coffee exports due to global shortages in coffee stocks and the recently implemented European Union-Vietnam Free Trade Agreement (see 2003310027), the Vietnam Customs Department's CustomsNews reported Feb. 1. Noting global coffee stocks…
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in port warehouses have fallen to “their lowest level in many years,” the report said exporters should benefit from the EUVFTA's removal of all taxes on processed coffee (down from 9% tariffs) as well as unroasted and roasted coffee products (down from 7%). The report said Germany is the largest importer of Vietnamese coffee.