According to statistics from the General Department of Customs, in November 2023, Vietnam’s coffee exports reached 80 thousand tons, earning 252 million USD, down 37.9% in volume and 17.5% in value. compared to November 2022.
The previous October, Vietnam’s coffee exports were at a record low of only 43,720 tons, worth about 157.6 million USD. Compared to the same period last year, coffee exports decreased sharply by 48.8% in volume and 28% in value.
In the first 11 months of 2023, Vietnam’s coffee exports are estimated to reach approximately 1.38 million tons, worth 3.54 billion USD, down 12.9% in volume and 2.5% in value compared to the previous year. same period last year.
Right at the beginning of the 2023/2024 crop year, the price of Vietnamese green coffee was at a very high level, about 60,000 VND/kg. Such a high price at the beginning of the crop is also something that has never happened in the history of the Vietnamese coffee industry. It is forecasted that coffee prices in Vietnam will continue to increase.
From now until the middle of next year, if major economies in the world continue to reduce interest rates, coffee exports will continue to benefit because this is the time when roasters around the world buy to stock up, making coffee prices difficult. downward. Including the 2023-2024 crop year, coffee exports can reach from 4.5 to 5 billion USD thanks to rising prices while decreasing output.
