According to the Import-Export Department, in mid-September, domestic coffee prices fell with the decline of world coffee prices. On September 19, domestic coffee prices decreased from 3.3 to 4.2% compared to August 29.
The popular discount rate of 3.9% occurred in most of the surveyed areas, down to VND 31,800 – 32,500 / kg; the lowest reduction was 33% in Buon Ho district, Dak Lak province, down to 32,400 VND / kg.
At the port area of Ho Chi Minh City, Robusta coffee grade R1 decreased by 3.2%, to 33,800 VND / kg.
According to statistics from the General Department of Customs, coffee exports month 8 reached 100 thousand tons, worth US $ 184.35 million, down 8.9% in volume and 6.3% in value compared to July 2020, compared with August 2019, down 12.2% in volume and decrease of 6.4% in value.
In the first 8 months of 2020, coffee exports reached 1.15 million tons, worth $ 1.97 billion, down 2.1% in volume and 2% in value over the same period in 2019.
The EVFTA Agreement takes effect from 1 /8 is expected to boost coffee exports in the coming time. With the implementation of the EVFTA Agreement, the EU has eliminated tariffs on all unroasted or roasted coffee products (down from 7-11% to 0%), processed coffee from 9-12%. down to 0%.
At the same time, coffee is one of 39 geographical indications of Vietnam committed by the EU to protect when EVFTA is officially put into operation. This is a huge competitive advantage for Vietnam’s coffee industry with other coffee exporting countries in the EU market.
Month 8, The average export price of coffee reached the highest level since January 2019, up to 1,840 USD / ton, up 3% compared to July 2020 and 6.6% compared to August 2019. In the first 8 months of 2020, the average export price of coffee increased by 0.1% over the same period in 2019, to $ 1,771 / ton.
Month 8, the average export price of coffee to many markets increased compared to July 2020 and increased compared to August 2019, such as: Laos, Singapore, Poland, Indonesia, Australia, Canada, Malaysia, English, Dutch, Russian.
In contrast, the average export price of coffee to some markets decreased, including: Cambodia, America, Romanian. In the first 8 months of 2020, the average export price of coffee to the Polish market and Indonesia 2-digit growth, up to 2,301 USD / ton and 2,171 USD / ton, respectively.
