Import and Export Department (Ministry of Industry and Trade) said that in the first 2 weeks of February 2020, domestic Robusta coffee prices increased compared to the end of January 2020.
According to statistics from the General Department of Customs, coffee exports in January 2020 decreased 22.9% in volume and 24.7% in value compared to December 2019, compared to January 2019, down 28 % in volume and 29.9% in value. Coffee exports in January 2020 decreased due to a period of transaction reduction during the Canh Ty Tet holiday.
In January 2020, coffee exports to Germany decreased by 4.6% in volume and 8.1% in value compared to December 2019, compared to January 2019, down 8.2% in volume and decreased 14.2% in value, reaching 23,734 tons, worth 37.24 million USD. The average export price of coffee to Germany in January 2020 reached 1,569 USD / ton
Coffee exports to the US in January 2020 reached 13,715 tons, worth $ 24.75 million, down 37.4% in volume and 36.3% in value compared to December 2019, compared to January. / 2019 decreased by 25.1% in volume and 23.9% in value. The average export price of coffee to the US in January 2020 reached 1,805 USD / ton, down 1.6% compared to December 2019, but up 1.6% compared to January 2019.
Coffee exports to Italy increased 32.6% in volume and 32.8% in value compared to December 2019, reaching 14,949 tons, worth $ 23.61 million, but down 15% in volume and down 18 , 5% in value compared to January 2019. The average export price of coffee to Italy in January 2020 increased by 0.2% compared to December 2019, to $ 1,580 / ton, but decreased by 4.1% compared to January 2019.
In addition, coffee exports in January 2020 to some markets increased compared to December 2019, such as Australia, Poland, Portugal, the Netherlands, Israel.
Around the world, Robusta coffee prices decline as global coffee supplies are likely to be in surplus with the prospect of Brazil having a record new harvest in the next few months. According to the Brazilian Institute of Geography and Statistics (IBGE), the country’s coffee output in 2020 will increase by 12.9% compared to 2019, to 56.4 million 60 kg bags (equivalent to 3.4 million). ton).
In addition, the coffee market in Southeast Asia also showed signs of increasing sales after the traditional Tet holiday, making the market more under pressure of oversupply. At the same time, the dollar increased against major currencies in the world currency basket, causing coffee prices to fall.
