8 Nov 2005

Coffee price boosts Papua New Guinea export earnings

9:40 am on 8 November 2005

A high export price for coffee during the second quarter this year has boosted Papua New Guinea's export earnings to a record US$40.3 million despite a drop in export volume during the period.

Second quarter export earnings jumped 234 per cent compared with the same quarter last year.

Statistics from the Central Bank Quarterly Economic Bulletin for the June 2005 quarter showed that volume of coffee exported during the quarter was 16,900 tonnes, a decline of 2.3 per cent from the corresponding quarter in 2004.

The decline was due to lower production attributed mainly to unfavourable weather conditions combined with lack of transportation facilities.