According to preliminary statistics from the General Department of Customs, Vietnam’s coffee exports in August reached 84,647 tons with a turnover of more than 258 million USD, down 22.3% in volume and 16% in value compared to the previous year. July 2023. Overall, in the first 8 months of the year, coffee exports brought Vietnam more than 2.9 billion USD with more than 1.2 million tons, down 5.4% in volume but up 3.1% in value compared to the previous year. same period in 2022.
Although volume has weakened, export coffee prices have increased sharply for 6 consecutive months. In August 2023, Vietnam’s average coffee export price recorded a record high of 3,054 USD/ton, up 8.0% compared to July 2023 and up 29.7% compared to August 2022. In the first 8 months of 2023, our country’s average coffee export price reached 2,463 USD/ton, up 8.9% over the same period last year.
In August 2023 compared to August 2022, coffee exports to most traditional markets decreased. But notably, a European country is sharply increasing its imports of Vietnamese coffee beans despite skyrocketing prices.
Specifically, coffee bean exports to the Danish market in August 2023 reached 212 tons with a turnover of 508,509 USD, a sharp increase of 146.5% in volume and 198.7% in value compared to August 2022. . In the first 8 months of the year, this country imported a total of 1,210 tons with a turnover of more than 2.7 million USD, a sharp increase of 73% in volume and 94% in value compared to the same period in 2022.
Export prices have increased sharply compared to the same period last year. On average, in the first 8 months of the year, this country bought Vietnamese coffee for 2,235 USD/ton, 240 USD/ton more expensive, equivalent to 12% compared to the same period last year. period 2022.
According to the leaders of the Vietnam Coffee and Cocoa Association (VICOFA), coffee prices are at their highest level in the past 30 years. However, the amount of reserves is currently very low. This leads to a decrease in coffee exports from August to October compared to the same period last year.
According to VICOFA, recently, many gardeners switched from growing coffee to growing fruit trees. In addition, intensive coffee gardens are now also intercropped with durian trees, causing our country’s coffee output to decline.
VICOFA estimates that this year’s coffee output will decrease by 10-15% due to unfavorable weather and increased coffee prices. However, coffee exports from now until the end of the year are still positive due to increased demand, while supply has not improved.
According to forecasts of the Ministry of Agriculture and Rural Development, the amount of coffee exported in 2023 will reach about 1.72 million tons, earning 4.2 billion USD.
According to data from the International Coffee Organization, Vietnam is the second country in the world in terms of coffee export market share (February 2021-January 2022 period), ranked only behind Brazil.
