Indonesia’s coffee exports surpass imports
Indonesia’s coffee exports have surpassed imports for 47 consecutive months since May 2020, the Central Statistics Agency (BPS) reported.
Indonesia’s coffee exports have surpassed imports for 47 consecutive months since May 2020, Photo courtesy of AFP/Vietnam News Agency.
According to BPS, the value of Indonesia’s coffee imports in March this year reached 32.07 million USD. The country mainly imported coffee from Vietnam and Brazil. However, Indonesia's coffee exports were still higher than those it bought from other countries.
BPS Acting Head Amalia Adininggar Widyasanti said Indonesia’s coffee imports in March increased by 18.04%, but the country exported 87.45 million USD worth of the product in the same month.
She said the result contributed to bringing Indonesia's coffee trade surplus to a total of about 55.38 million USD in March. Along with Brazil, Vietnam and Colombia, Indonesia is one of the world's largest coffee producers.
The Indonesian government has recently issued policies to support coffee production development such as giving farmers access to preferential loans and investing in modern processing equipment. However, hot weather due to El Niño is affecting the harvest yield of coffee plantations, she added.
- Read More
Novaland says southern Vietnam projects under construction after customers lodge police complaints
Responding to Ho Chi Minh City police requests for project documents, Vietnam real estate major Novaland says all its projects in southern Vietnam provinces are under construction.
Real Estate - Wed, May 8, 2024 | 5:32 pm GMT+7
Vietnam dong likely to narrow slide by end-2024: Vietcombank Securities
Vietnamese currency dong (VND) is likely to appreciate against the U.S. dollar towards the year-end, narrowing its year-to-date depreciation, analysts with Vietcombank Securities say.
Banking - Wed, May 8, 2024 | 4:00 pm GMT+7
Testing food packaging is a vital step toward ensuring food safety and hygiene: exec
Packaging types that come into direct contact with food are at risk of becoming contaminated with dangerous compounds which are potentially harmful to human health, said Devender Singh, global innovation & technical development leader of food testing company Eurofins Sac Ky Hai Dang Company Limited.
Companies - Wed, May 8, 2024 | 3:34 pm GMT+7
Green products key for An Phat Bioplastics to dominate market: chairman
An Phat Bioplastics JSC, listed on the Ho Chi Minh Stock Exchange (HoSE) as AAA and a subsidiary of Hanoi-headquartered An Phat Holdings, will focus on researching and developing new products to diversify its green product portfolio and quickly dominate export markets, said its chairman Nguyen Le Thang Long.
Executive Talk - Wed, May 8, 2024 | 2:24 pm GMT+7
Vietnam logistics firms small but dynamic: insider
Foreign-invested enterprises hold the lion's share of Vietnam's logistics market, but domestic firms are becoming more dynamic despite their small scale, said Duong Quang Duy, CEO of VietAviation Logistics.
Economy - Wed, May 8, 2024 | 1:37 pm GMT+7
Vietnam high tech sector appealing to FDI firms: analysts
High technology is continuing to attract foreign-invested enterprises in Vietnam this year, which in turn will give a boost to the country’s economic growth, analysts have said.
Industries - Wed, May 8, 2024 | 10:18 am GMT+7
Indian chemicals giant Kanoria eyes deep-water port, oil refinery investments in central Vietnam
Kanoria Chemicals & Industries Ltd., one of the leading manufacturers of chemical intermediates and specialties in India, has shown interest in the Bai Goc deep-water port project located in Nam Phu Yen Economic Zone, Vietnam’s central province of Phu Yen.
Infrastructure - Wed, May 8, 2024 | 10:06 am GMT+7
Greenback surge hurts Vietnamese importers, firms with dollar debts
Vietnamese businesses with dollar-denominated loans and/or those that are heavily reliant on imports have been badly hurt by the greenback’s surge against the local VND currency.
Companies - Wed, May 8, 2024 | 8:11 am GMT+7
Singapore Airlines switches to sustainable aviation fuel use
Singapore Airlines has ordered 1,000 tonnes of sustainable aviation fuel (SAF) from refiner Neste, which is the airlines’s first purchase of low-carbon jet fuel from the Finland-based refinery.
Southeast Asia - Tue, May 7, 2024 | 10:20 pm GMT+7
Canada considers Southeast Asia gateway to Indo-Pacific
The Canadian Chamber of Commerce and the Export Development Canada (EDC) have co-organised a forum in Montreal, discussing the nation’s gateway to the Indo-Pacific, which groups 40 countries whose economic activities are worth close to $50 billion.
Southeast Asia - Tue, May 7, 2024 | 10:19 pm GMT+7
Thailand to increase daily minimum wage
Thai Prime Minister Srettha Thavisin on Tuesday defended his plan to introduce a nationwide daily minimum wage of THB400 ($10.88) as a necessary move for the economy.
Southeast Asia - Tue, May 7, 2024 | 10:19 pm GMT+7
Indonesia to build AI development centre with $200 million investment
Indonesia will have an artificial intelligence (AI) development centre with an investment of $200 million.
Southeast Asia - Tue, May 7, 2024 | 10:18 pm GMT+7
Philippines develops economic zones
Philippine President Ferdinand Marcos Jr. has said various economic zones in the country are open to all foreign investors and hoped that foreign companies can seize the business and trade opportunities from these economic zones.
Southeast Asia - Tue, May 7, 2024 | 10:17 pm GMT+7
Indonesia’s first EV battery factory expected to come into operation next month
Indonesian President Joko Widodo (Jokowi) has told the media that the first electric vehicle (EV) battery factory in the country will begin operating in June.
Southeast Asia - Tue, May 7, 2024 | 10:15 pm GMT+7
Samsung willing to pay more under global minimum tax scheme in Vietnam
South Korean conglomerate Samsung stands ready to pay more taxes in Vietnam in line with the Global Minimum Tax (GMT) roadmap, Dong Thi Hong Anh, chief accountant of its Vietnam operations said Tuesday.
Companies - Tue, May 7, 2024 | 7:29 pm GMT+7
Vietnam central bank sells $500-700 mln forex to cool dollar fever
Vietnam’s central bank is estimated to have sold foreign currency worth $500-700 million via spot transactions to help rein in the recent surge of the greenback.
Banking - Tue, May 7, 2024 | 4:24 pm GMT+7
