In 2023, Vietnam’s coffee exports will reach a record of 4.24 billion USD, the second year it exceeds the 4 billion USD mark. In the first 9 months of this year, Vietnam’s coffee exports continued to exceed the 4 billion USD mark and broke the record for 2023.
According to preliminary statistics from the General Department of Customs, in September 2024, Vietnam’s coffee exports reached nearly 51.3 thousand tons, equivalent to 287 million USD. This is the lowest level of output and turnover since the beginning of the year. Export prices in September increased by 65% over the same period last year.
In the first 9 months of 2024, our country exported 1.1 million tons, equivalent to more than 4.31 billion USD, down 11.7% in volume but up 37.8% in turnover. This is also the first time Vietnam’s coffee export turnover has exceeded the 4 billion USD mark after just 3 quarters.
The main reason that helped coffee exports soon surpass the 4 billion USD mark and set a new record this year is thanks to the increase in export coffee prices. Export prices increased by 56% compared to the first 9 months of 2023, averaging 3,896 USD/ton.
Europe is still Vietnam’s largest coffee export market as the top 3 all belong to countries in this region.
In 9M/2024, Germany continues to be the largest export market, reaching 131.8 thousand tons, equivalent to 481 million USD.
Coffee exports to Italy ranked second in the market, reaching 103.4 thousand tons, equivalent to 353 million USD.
Spain is the third largest export market, increasing 20% in volume and 88% in turnover compared to the first 9 months of 2023, reaching 83 thousand tons, equivalent to 339 million USD.
In addition to the top 3, many markets also witnessed outstanding growth, of which China is a very active buyer of Vietnamese coffee.
Specifically, in September, Vietnam exported 4,261 tons of coffee to China, equivalent to 20.4 million USD, an increase of 134.6% in volume and 143.7% in value compared to September 2023. .
Since the beginning of the year, the country of billions of people has spent 174 million USD to import 41 thousand tons of coffee from Vietnam, an increase of 36.7% in volume and 72% in value. The average export price reached 4,234 USD/ton, up 25.7% over the same period.
Ms. Wang Rui – Sales Director at Suzhou Sudou International Trade Co in Suzhou, Jiangsu, said that demand for coffee in China, especially high-end coffee, has increased significantly and this trend will continue. increased in the second half of the year.
According to Ms. Wang, the increase in coffee consumption in China is largely due to rapid urbanization and the changing lifestyles of the younger generation, who are attracted to the convenience and social aspects of coffee. coffee culture.
Ms. Wang said that in addition to importing coffee beans from Brazil, Colombia, Ethiopia and Uganda, Suzhou Sudou has expanded its purchasing volume from countries such as Vietnam, Indonesia, Ecuador and the US in recent years.
Regarding the general situation in the world market, the recent strong increase in coffee prices comes from the increasing demand for Robusta coffee, while supply is scarce due to climate change.
Robusta, Vietnam’s main coffee with 94% of the planted area, used to cost only 1/3 to 1/2 of Arabica. However, recently, the price of Robusta has even surpassed Arabica by nearly 1,000 USD/ton. This has helped Vietnam benefit greatly even though export output decreased.
With positive export results achieved in 9 months, Vietnam’s coffee exports this year are facing the opportunity to reach the 5 billion USD mark for the first time.
In the 2023 – 2024 crop year, Vietnam exported 1.45 million tons of coffee, reaching the highest turnover ever with nearly 5.43 billion USD. It is forecasted that in the 2024-2025 crop year, Vietnam’s coffee industry will face many challenges, especially the impact of the El Nino phenomenon, causing drought and pests, with output expected to decrease by 5-15% compared to the previous year. with the previous case.
