Coffee is one of the main export agricultural products of Vietnam, currently ranked 2nd in the world (after Brazil), present in more than 80 countries and territories around the world, mainly in the market such as Germany, USA, Spain, Italy, Belgium, UK and emerging markets such as China, Russia, Korea, Japan…
In 2021, Vietnam’s coffee exports will reach 1.52 million tons, worth approximately 3 billion USD, although down 2.7% in volume, but up 9.4% in value compared to 2020. Notably. In December 2021, export coffee prices reached the highest level since June 2017.
Ministry of Industry and Trade forecast Vietnam’s coffee exports in 2022 will continue to be positive thanks to abundant supply, Free Trade Agreements (FTAs) creating a competitive advantage for Vietnamese coffee and export prices likely to be maintained. At a high level. According to the US Department of Agriculture (USDA), in the 2021-2022 crop year, Vietnam’s coffee output is forecast to reach 31.1 million bags, thanks to favorable weather conditions that have supported productivity.
Coffee is one of the most widely consumed beverages in the world. According to the World Coffee Organization (ICO), in crop year 2020/21, about 167.3 million bags (60 kg) of coffee are consumed globally, up from 164.1 million bags in MY 2019/2020. Still follow report According to market research, in the period of 2021 – 2025, the global coffee market will grow by 7.6% on average.
The factors driving the coffee market to develop such as population growth outside of home consumption, rapid urbanization, increase in e-commerce retail sales, increase in Generation Z income, increase in preferences Instant coffee, growing demand for specialty coffees and increased consumption of green coffee in emerging economies are expected to drive the market.
In 2022, according to statistics from the International Trade Center (ITC), Vietnam still has plenty of room to increase coffee exports to the world’s top five markets (the United States, Germany, France, Canada, and Italy). ). To meet the strict requirements from these markets, in addition to improving product quality, the coffee industry needs to focus on seek an origin, improve production capacity. The structure of Vietnam’s coffee exports needs to be changed, reducing exports of raw coffee beans, promoting processing and exporting roasted and ground coffee. Trade promotion activities continue to be focused, helping to promote and connect Vietnamese coffee products to the world market.
