People in Tuan Giao district, Dien Bien province collect coffee. (Photo: VNA)
According to the General Department of Customs, the country’s coffee exports in August reached 112.5 thousand tons, a slight decrease of 1.2% compared to July, but increased by 1.7% in turnover, equivalent to 266 million USD. . Accumulated in the first 8 months of this year, our country exported 1.2 million tons, worth US$2.8 billion, up 15.3% in volume and 40.4% in value.
With this impressive growth momentum, the target of reaching export turnover of 3 billion USD this year has soon been achieved. Even, Vietnam’s coffee industry this year may set a record turnover of 4 billion USD if export prices continue to be high.
The Vietnam Coffee and Cocoa Association forecasts that the export price of coffee in the last months of the year will continue to go up because the supply in the population has dried up, businesses have less than 500,000 tons for export.
Recorded in this morning, the price of green coffee beans in the Central Highlands and Southern provinces fluctuated around 47,000 – 48,000 VND/kg, stable in the high price area after the previous strong increase.
Next November – December, Vietnam will just enter the coffee harvest season 2022 – 2023. If the export price of coffee remains at a high level, the whole year 2022, the coffee industry can still set a turnover milestone. record $4 billion.
According to forecasts, the coffee industry in 2022 will grow by 30-40% because the whole world is adapting to COVID-19, the demand is large while the supply is decreasing. The export price of coffee may reach 2,400 – 2,600 USD/ton in 2022 and the upward momentum may last into 2023.
According to the Import-Export Department (Ministry of Industry and Trade), in the top 10 coffee export markets of Vietnam, there are 6 European countries. Recently, coffee demand has expanded significantly beyond the EU, US and Japanese markets.
In the Chinese market, instant coffee and ready-to-eat coffee are capturing a large market share thanks to the convenience of use. The demand for coffee in China is growing at an average rate of 15% per year because the people’s demand for coffee increases. Therefore, the potential of Vietnam’s coffee exports to this market is still very large.
