This year, high coffee prices have helped Vietnam’s coffee export turnover to potentially exceed 5 billion USD for the first time.
Vietnam is currently the largest producer of Robusta coffee in the world. About 97% of its output is Robusta coffee, while the rest includes Arabica coffee and other specialty varieties. Although domestic coffee consumption is increasing, exports are still the main source of income for Vietnam’s coffee production industry. In 2024, the average coffee price increase of over 50% has helped Vietnam’s coffee export turnover to potentially exceed 5 billion USD for the first time.
Since the beginning of the year, the export price of Vietnamese coffee has been continuously increasing. In January, the export price was just over 3,000 USD/ton. However, by October, it increased sharply to 5,855 USD/ton. In just 10 months, the price has increased by over 90%.
According to the Ministry of Agriculture and Rural Development, the average export price of coffee in 11 months of 2024 is estimated at 4,037 USD/ton, an increase of 56.9% compared to the same period in 2023.
Coffee exports in 11 months of 2024 reached nearly 1.2 million tons with a turnover of 4.84 billion USD. Although the volume decreased by 15.4%, the export value increased by 32.8% compared to the same period in 2023. Germany, Italy, and Spain were the three largest coffee-consuming markets. Coffee exports have grown in all markets within the group of the 15 largest export markets. Among them, the strongest increases were recorded in Malaysia and the Philippines, both of which more than doubled.
This year, high coffee prices have helped Vietnam’s coffee export value to potentially exceed 5 billion USD for the first time.
Vietnam has just started the coffee season 2024-2025. But looking back at the coffee season 2023-2024, Vietnam’s coffee exports have reached a new milestone. Although the coffee export volume decreased by over 12% with 1.46 million tons of coffee, the export value increased by over 33%, reaching 5.43 billion USD. This is the highest export value in a coffee season to date and the first time coffee exports in a coffee season have exceeded 5 billion USD.
Recently, the European Parliament (EP) approved a proposal to postpone the implementation of the EU Deforestation Regulation (EUDR) by 12 months. Accordingly, large import-export enterprises must comply with the EUDR from December 30, 2025, while micro and small enterprises have a deadline of June 30, 2026.
Vietnamese coffee will be significantly impacted by the above regulation. According to experts, with the postponement of implementation, coffee-producing countries, including Vietnam, will have more time to fully meet the new standards. At the same time, EU importing countries do not need to rush to import at the end of 2024. The supply and demand for coffee in the global market will be temporarily stable.