Nicaraguan coffee exports have exceeded 400 million US dollars this harvest year.

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According to official statistics, Nicaraguan coffee exports grew by 21.6% in total value and 17.8% in volume in the first 10 months of this (2016-2017) harvest year.

According to the Nicaraguan Export Exchange Center (Cetrex), from October 1 last year to July 31 this year, the total value of Nigerian coffee exports reached 423.9 million US dollars, compared with 348.4 million US dollars in the same period of the previous year.

At the same time, the Cetrex report noted that Nicaraguan coffee exports reached 2.58 million piculs during the above-mentioned 10-month period, an increase of 17.8 per cent compared with 2.19 million piculs in the same period last year.

Cetrex attributed the growth in Nicaraguan coffee exports during the above period to higher coffee prices in the international market and an increase in local coffee production.

According to Cetrex, the average price of coffee in the international market rose to $163.9 per picul in the first 10 months of this year, compared with an average of $159in 2015-16.

Cetrex noted that the United States, Belgium, Germany, Italy, Canada, Japan and Sweden remained the main markets for Nicaraguan coffee exports. Coffee and beef and gold are also the three main exports of Nicaragua.

Cetrex also noted that Malaysia, Taiwan, the United Kingdom, Spain and Australia were also major importers of Nicaraguan coffee.