RP coffee exports up 76% to $2M in 2003

Philippine export of coffee went up by 76 percent to 740 metric tons (MT) valued at $2.019 million in 2003 from 420 MT worth $1.144 million in 2002, the Department of Trade and Industry’s (DTI) International Coffee Organization Certifying Agency (ICOA) reported yesterday.

Japan, Thailand, Indonesia and the UK bought 90 percent of the 588,500 kilograms (kg) of instant coffee exported by the Philippines last year.

The remaining 10 percent was exported to Malaysia, New Zealand, Papua New Guinea, Saudi Arabia, Oman, Qatar and Palau.

The Robusta variety of green coffee beans were exported to the US and Switzerland at 12,000 kilos each, while the Liberica green coffee beans (better known as barako) amounting to 126,000 kilos were exported to the Middle East.

Trade Undersecretary for International Trade Thomas Aquino said the DTI expects exports of Philippine coffee to increase this year due to the production cutback by traditional exporters like Brazil and the prevailing high prices of coffee in the world market.

Data from the London-based International Coffee Organization show that total coffee production of 45 countries posted a combined 14.6-percent reduction to 102.5 million bags in 2003 from 119.95 million bags in 2002.

This resulted in the volatility of coffee prices in the world market which is advantageous to minor exporters like the Philippines once prices go up due to higher demand.

The Philippines was able to export Liberica green coffee beans to the Middle East at prices ranging from $1.225 per (kg) to $1.825 per kg or P78 per kg on average.

The Barako variety exported to the US in August 2003 was priced at $1.827 per kilo.

The Robusta green coffee beans were prices at the average of 79 cents per kilo of P42.26 per kilo.