From the beginning of the year to the end of August 15, 2023, the value of coffee exports has reached more than 2.8 billion USD. It is forecast that the export volume of the whole year 2023 will reach about 1,718 million tons and be worth 4.2 billion USD if the export volume in the last months is equal to the same period last year and the export price is equal to the first months. This will be a new record for the coffee industry…
According to the latest data of the General Department of Vietnam Customs, in the first 15 days of August 2023, Vietnam exported 37.4 thousand tons of coffee, earning 110.8 million USD. This result was down 23.3% in volume and only 3.5% in value compared to the same period last year. Accumulated from the beginning of the year to the end of August 15, Vietnam exported 1.154 million tons of coffee with a turnover of 2.81 billion USD, down 20% in volume but up nearly 5% in value over the same period last year.
Vietnam’s coffee is increasingly creating a good reputation in the international market.
THE EXPORT PRICES OF COFFEE RISE TO A RECORD HIGH
In the past time, Vietnam’s coffee exports to Italy, the US, Japan, Russia, Algeria, the Netherlands, and Mexico all increased compared to the same period last year. Notably, in July 2023, Vietnam’s average export price of coffee reached a record high so far, at 2,828 USD/ton, up 5.4% compared to June 2023 and 23.4% compared to July 2022. In general, in 07 months of 2023, the average export price of Vietnam’s coffee reached 2,418 USD/ton, up 7.3% over the same period last year.
In the first half of August 2023, the price of Robusta coffee on the world market decreased slightly. The reason is that Brazil is in the harvest season of coffee, so the country has increased its exports, which has compensated for the shortage of Robusta coffee supply from Vietnam. However, international market analysts consider the downward trend of coffee prices to be only a short-term factor. In the long term, coffee prices, especially Robusta, will continue to rise as demand continues to increase in markets around the world. Besides, the competitive price of Robusta coffee with Arabica coffee is also the reason why this item is preferred.
With the above assessment, Vietnam’s coffee exports in 2023 are forecast to reach about 1,718 million tons, with a turnover of 4.2 billion USD. According to experts, this expectation comes from many reasons. In particular, the area of coffee cultivation has continuously increased in the past time, in 2022, it increased by 42.9% compared to 2005. Coffee production in 2022 reached 1.897 million tons, up 7.5% compared to 2020 and 2.8% compared to 2021.
“The project to build an international standard coffee material area is being implemented on an area of 19,700 ha in 04 provinces including Gia Lai, Dak Lak, Kon Tum, and Dak Nong. In this project area, about 64 cooperatives are benefited with 5,230 coffee-producing households “.
Mr. Tran Thanh Nam, Deputy Minister of Agriculture and Rural Development.
Coffee exports increased sharply, in 2000 they reached 734,000 tons, then 1.218 million tons in 2010, 1.341 million tons in 2015, 1.565 million tons in 2020, and 1.778 million tons in 2022. In particular, 2022 was a very successful year for Vietnam’s coffee exports, with an export volume of 1.78 million tons and a record turnover of 4.06 billion USD.
To improve the quality and price of export coffee and raise the position of Vietnamese coffee products on the world market, the Ministry of Agriculture and Rural Development and provinces in the Central Highlands are implementing a project to build coffee material areas that meet global standards.
Deputy Minister of Agriculture and Rural Development Tran Thanh Nam said that Vietnam is a destination for many large corporations to produce coffee. Therefore, the Ministry of Agriculture and Rural Development determined that it is necessary to build standardized coffee material areas in key regions to ensure export requirements./.