In the first three months of 2024, Vietnam exported 579,449 tons of coffee, worth 1.93 billion USD. The output increased by only 4.9%, meanwhile, the value increased sharply by 57.3% over the same period last year thanks to high export prices.
The Vietnam Coffee and Cocoa Association (VICOFA) said that in March 2024, Vietnam exported about 185,281 tons of coffee with a turnover of about 680.86 million USD. Compared to the same period last year, it decreased by 11.9% in quantity but increased by 41.1% in value.
In terms of export coffee prices, the average price in March continued to increase. It is at the highest level in the past six months, reaching 3,555 USD/ton, up 8% over the previous month and 55.0% over the same period in 2023. Overall, in the first quarter of 2024 , it reached 3,289 USD/ton, which was an increase of 48% over the same period in 2023.
Coffee export turnover in 2024 may reach about 05 billion USD.
In the first three months of 2024, Vietnam exported about 579,449 tons of coffee and export turnover was about 1.93 billion USD. Although the volume only increased by 4.9%, the value increased sharply by 57.3% over the same period last year thanks to the increase in export prices. Of which, Robusta coffee was exported the most with 515,164 tons with a turnover of over 1.57 billion USD. Arabica coffee exports were only 16,474 tons with a turnover of over 69.27 million USD. Exports of roasted and soluble coffee were about 35,853 tons, reaching a turnover of over 246.41 million USD.
Mr. Nguyen Nam Hai, President of VICOFA, said that this is the highest level in recent years and this increase is due to the increase in world coffee prices. In the first three months of the year, Europe was the largest importer of Vietnamese coffee beans with 278,718 tons (accounting for 51.3%). The German market was leading with 69,924 tons, Italy ranked second with 63,952 tons, and Spain ranked third with 43,287 tons…
Currently, each ton of exported coffee costs about 4,000 USD and the domestic coffee price is about 102,000 VND/kg.
Experts said that, with the current market situation, the export turnover of 05 billion USD in 2024 is sure to be achieved by the coffee industry. However, it is important to develop sustainably.
According to the Mercantile Exchange of Vietnam (MXV), after a week of very strong price increases, coffee prices have shown signs of slight decrease. Arabica prices are down 0.66% after hitting a 1 ½ -year high. Robusta prices are down by a negligible 0.05% from a 30-year historical peak./.