The Import and Export Department (Ministry of Industry and Trade) said that according to the estimate, coffee exports in August 2020 reached 110 thousand tons, worth $ 197 million, down 0.03% in volume, but up 0.2% in Value compared with July 2020, compared to August 2019, down 3.6% in volume and 0.02% in value. Generally for the first 8 months of 2020, coffee exports were estimated at 1.16 million tons, worth $ 1.98 billion, and down 1.3% in both volume and value over the same period in 2019.
In August 2020, the average export price of coffee was estimated at 1,791 USD / ton, an increase of 0.2% compared to July 2020 and an increase of 3.7% compared to August 2019. In the first 8 months of 2020, the average export price of coffee was estimated at 1,708 USD / ton, down 0.02% over the same period in 2019.
According to calculations from the statistics of the General Department of Customs, in July 2020 and the first 7 months of 2020, exports of Robusta coffee and Excelsa coffee decreased, while exports of Arabian coffee increased sharply.
Robusta coffee exports in July 2020 reached 93.99 thousand tons, worth US $ 139.59 million, down 24.4% in volume and 26.1% in value compared to July 2019. In the first 7 months of 2020, Robusta coffee exports reached 898.2 thousand tons, worth $ 1.33 billion, down 1.4% in volume and 4.2% in value over the same period in 2019. In particular, exports of Robusta coffee to many major markets decreased, including Italy, Spain, America, Russia, Algeria, Belgium, UK, Malaysia, Thailand, France, and India. In contrast, exports of Robusta coffee to some major markets grew at a high rate of 2 digits, including: Japan increased by 18.4%; Philippines increased by 10.3%; South Korea increased by 11.9%.
On the world market, in August 2020, Robusta and Arabica coffee prices increased sharply due to increased demand, decreased inventory, while people were not in a hurry to sell. The forecast for Vietnam’s coffee production in crop year 2020/21 decreases and the new harvest in Brazil slows down due to unfavorable weather, which is also a factor supporting coffee prices in August 2020.
The Import-Export Department forecasts that in the coming time, world coffee prices will be difficult to maintain strong momentum. The sharp increase in prices in August 2020 was mainly due to speculation. According to the International Coffee Organization (ICO), it is expected that the global coffee supply shortage of 486 thousand bags is a negligible number. Inventory was certified at a record low level by 2 exchanges because the futures price fluctuated at a long-lasting low, there was no attraction for traders to bring coffee to the 2 floors to register for auction.
