20 Jan 2006

PNG coffee export peaks at US$69 million - report

9:22 am on 20 January 2006

Papua New Guinea's coffee export earnings has peaked at US$69 million in the September quarter - up 83.2 per cent from the same period in 2004.

The National newspaper reports a record 30,700 tonnes of coffee were exported - up 29 percent on the volume the previous year.

The quarterly figures are the highest since 2000, the Central Bank reported in the September 2005 Quarterly Economic Bulletin.

The average export price of coffee was up 41.4 percent from the same period in 2004.

The increase in the dollar value was boosted by higher international prices and a decline in exports from leading coffee producer Brazil, owing to bad weather.

Of the national production, 90 per cent is accounted for by village growers while the rest comes from estate plantations.