2019 the price of Vietnamese coffee beans plummeted. Rice and coffee export materials, Vietnam's ace products, both declined.

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There are shocking signs of weakness in Asia, following weak economic data from China, Japan and South Korea. Vietnam reported that exports fell 1.3 per cent year-on-year in January, far below market expectations of 5.5 per cent, while imports rose only 3.1 per cent, also far below expectations of 6.6 per cent.

Global consumption slowdown spreads to medium to grass-roots consumption

Vietnam's figures are not simple, as exports of coffee and rice, two trump cards, are expected to fall unexpectedly, neither of which is high-priced, suggesting that the global consumption slowdown has spread to medium or even grass-roots consumption.

Exports from the largest producer of Robusta fell 19.1 per cent in January

Vietnam is the world's largest producer of Robusta coffee. Generally speaking, it is cheaper than Arabica, and it can be regarded as a medium-priced or even civilian-grade product among coffee. Vietnam's coffee exports in January are expected to plunge 19.1 percent to 175000 tons, equivalent to 2.92 million bags of coffee with a net weight of 60 kilograms, and export revenue plunged 27.2 percent to 305 million US dollars.

Vietnam is the world's third-largest rice exporter, with rice exports expected to fall 18.5 per cent year-on-year in January to 400000 tons and revenue falling 24.8 per cent to $180 million.

Vietnam, one of the fast-growing countries in Southeast Asia, has made great efforts to attract foreign investment in recent years. Samsung has set up mobile phone factories in Vietnam. Vietnamese Prime Minister Nguyen Chun Phu said only last week that Vietnam's macro-economy is stable and will continue to maintain currency stability in 2019 and will not devalue its currency in order to stimulate exports.

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