Kon Tum farmers harvest coffee for export processing. File photo: VNA
Vietnam’s largest coffee export market in 7 months is Germany with 13% market share, followed by Italy with 10%, the United States 9%, Japan 8%…
However, according to data published by the General Department of Customs, Vietnam’s coffee exports in August 2023 fell to the lowest level since November 2022, with a volume reaching 84,647 tons, worth 258 million VND. 5 million USD, down 22.3% in volume and 16% in value compared to the previous month.
The Import-Export Department – Ministry of Industry and Trade forecasts that Vietnam’s coffee exports in the third quarter of 2023 will slow down because the supply is no longer abundant. However, Vietnam’s coffee exports will benefit in price because the world’s consumer tastes tend to shift to robusta coffee.
The total amount of coffee exported in the 11 months of the 2022 – 2023 crop year (from October 2022 to August 2023) reached more than 1.6 million tons, a slight decrease of 2% compared to the same period of the previous crop year.
With output in the current crop year forecast to be only about 1.5 – 1.6 million tons, down 10 – 15% compared to the 2021 – 2022 crop year, the coffee supply for export to date is almost has run out. Coffee supply is expected to improve from November until the new harvest season 2023 – 2024.
However, low inventories pushed export coffee prices in August to a new record of 3,054 USD/ton, up 8% over the previous month and up 30% (nearly 700 USD/ton) compared to the previous month. with the same period last year.
In the first 8 months of 2023, the average export price of coffee has increased by nearly 9% to 2,463 USD/ton.
According to the Import-Export Department, Ministry of Industry and Trade, processed coffee export turnover increased nearly 22% in 7 months of this year to 448.7 million USD, accounting for 17% of total coffee export turnover, an increase compared to 15% proportion of the same period last year. In contrast, the proportion of green coffee (including robusta and arabica) decreased to 83.3% compared to 85% in the same period.
The Ministry of Agriculture and Rural Development said that the factor affecting coffee exports is that according to the World Coffee Organization (ICO), global coffee production is short of about 7.26 million bags in the 2023 crop year. – 2024. Coffee supply is expected to be in short supply in the short and medium term.
The Indonesian Coffee Producers and Exporters Association (AEKI) also said that Indonesia’s coffee output in 2023 is expected to decrease by about 20%, to 9.6 million bags.
According to data from the US Department of Agriculture, Indonesia’s coffee production in the 2023/2024 crop year is forecast to reach 9.7 million 60 kg bags, down from 11.85 million bags in the previous crop year and the lowest since crop year 2011 – 2012.
