Although the harvest season has begun, Vietnam’s coffee exports in November only reached 63,019 tons, down 47% compared to the same period last year. It is also the lowest in over 15 years.
According to data from the General Department of Customs, Vietnam’s coffee exports in November reached 63,019 tons, with a turnover of 351.7 million USD. This is a sharp decrease of 47% in volume and 1.3% in turnover compared to the same period in 2023.
This is the lowest export volume in November since 2009. The reason is believed to be the low inventory levels, while the new harvest was disrupted by adverse weather and many difficulties with orders.
Coffee exports in November were the lowest in over 15 years.
According to the Export Department (Ministry of Industry and Trade), unfavorable weather has affected Vietnam’s key coffee harvest, raising concerns about supply disruptions.
In the key coffee-growing regions of Lam Dong, it has been raining continuously for about a week. Due to the prolonged rain, people cannot harvest coffee even though the coffee is now ripe. The rain also causes more coffees to drop, which will take more time to harvest, thereby increasing labor costs.
The occurrence of rain in December is unusual, as this time of year usually marks the end of the rainy season for the entire Central Highlands, and the weather would be sunny. Not only does it affect the harvest, but the continuous rain during this period also causes coffee trees to bloom earlier, impacting the yield of the next season.
Vietnam’s coffee production in the 2023-2024 season is estimated to be around 1.5-1.6 million tons, a decrease of 6% compared to the last season. The harvest in the 2024-2025 season is now forecast to continue declining.
From the beginning of the year to the end of November, Vietnam’s coffee exports reached 1.22 million tons., with a revenue of 4.93 billion USD. This is a decrease of 14% in volume but an increase of 35.4% in value compared to the same period in 2023.
Although the export volume decreased, thanks to a significant price increase, the coffee export turnover surpassed 4.24 billion USD for the entire year of 2023 and set a new record.
The average export price of Vietnamese coffee in 11 months of this year was 4,052 USD/ton, an increase of 57.4% (1,478 USD/ton) compared to the same period in 2023. In November alone, the average export price of coffee reached 5,581 USD/ton, an increase of 86% compared to the same period last year, but it then decreased by 2.4% compared to the last month.
Regarding the export market, the EU remains the largest coffee consumer market for Vietnam in 11 months of the year. This market accounts for 38.4% of the total export turnover, with a volume of 477,859 tons and a turnover of over 1.89 billion USD. It is down 8.2% in volume but up 50.4% in turnover compared to the same period in 2023.
In addition to the EU, Vietnam’s coffee exports to other major markets such as Japan, the USA, and Russia have all significantly decreased in volume. However, the value has increased by 33.3%, 9%, and 17.3%, respectively.
Meanwhile, Asia is emerging with significant export potential for Vietnam, with both volume and value experiencing strong growth in many markets such as the Philippines, China, Indonesia, Thailand, Malaysia, and Cambodia.