Import and Export Department (Ministry of Industry and Trade) said that in July 2020, coffee prices in the domestic market increased compared to June 2020.
According to estimates, coffee exports in July 2020 reached 120 thousand tons, worth $ 213 million, down 6% in volume and 2.2% in value compared to June 2020, down 15.1% in volume and 12.3% decrease in value compared to July 2019. Generally for the first 7 months of 2020, coffee exports were estimated at 1.06 million tons, worth $ 1.8 billion, down 0.1% in volume and 0.6% in value over the same period in 2019. .
The average export price of coffee in July 2020 is estimated at 1,775 tons, up 4.1% compared to June 2020 and up 3.3% compared to July 2019.
According to calculations from the statistics of the General Department of Customs, Robusta coffee exports in June 2020 reached 109.7 thousand tons, worth $ 158.48 million, down 12.1% in volume and down 14, 5% in value compared to June 2019. In the first 6 months of 2020, Robusta coffee exports reached 804.2 thousand tons, worth $ 1.19 billion, up 2.2% in volume, but down 0.7% in value over the same period in 2019. In which, Robusta coffee exports to many markets increased such as Germany 14.1%, Japan 21.6%, Algeria 4.6%, Belgium 7.7%; while exports to Italy, Spain, America and Russia… decreased.
On the world market, at the end of July 2020, coffee prices on the world market increased sharply due to a weakening US dollar, more optimistic market forecasts and unfavorable Brazilian weather, affecting the development of the market. coffee tree. Accordingly, the demand for Robusta coffee in the world increased rapidly due to the Covid-19 epidemic, which made the trend of working from home to increase. Coffee consumption is forecast to increase by about 5.8% in 2020; In Brazil, black frost may appear, often killing plants; Real currency recovered while USD weakened, helping coffee prices to recover.
