new Vietnam coffee crop 2016 U.S. Department forecast : The well-respected U.S. Department of Agriculture Foreign Agricultural Service have revised higher by 2.45% their earlier forecast for the new Vietnam coffee crop, which they now foresee to be 29.3 million bags.
This new crop that they appropriate to a new robusta coffee crop of 28.2 million bags and a new arabica coffee crop of 1.1 million bags, they say is over and above and estimated 5.83 million bags of carryover stocks into the new crop, which inflates coffee supply for this new October 2015 to September 2016 coffee year to a significantly high 35.13 million bags.
The report also indicates that domestic consumption within Vietnam shall increase to perhaps as high as 2.6 million bags in the coming year, but even with this aside the coffee supply shall remain at a high 32.53 million bags. With the report suggesting that this shall result in Vietnam having the insurance against possible weather related problems in the coming year, of a carryover stock of in excess of 4 million bags into the next October 2016 to March 2017 harvest.
The report also indicates that domestic consumption within Vietnam shall increase to perhaps as high as 2.6 million bags in the coming year, but even with this aside the coffee supply shall remain at a high 32.53 million bags. With the report suggesting that this shall result in Vietnam having the insurance against possible weather related problems in the coming year, of a carryover stock of in excess of 4 million bags into the next October 2016 to March 2017 harvest.
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