Coffee is one of Vietnam’s key agricultural commodities. In the group of agricultural, forestry and fishery products with export turnover of 3 billion USD or more in 2021, the presence of coffee is indispensable. In 2021, Vietnam’s coffee exports will reach 1.52 million tons, down 2.7% in volume, but up 9.4% in value compared to 2020.
Vietnam’s coffee exports rank second in the world (after Brazil), present in more than 80 countries and territories around the world, mainly in major markets such as Germany, the US, and Spain. , Italy, Belgium, UK and emerging markets such as China, Russia, Korea, Japan…
According to the latest statistics of the General Department of Customs, in the first 7 months of 2022, Vietnam’s coffee exports reached 1.13 million tons, worth 2.56 billion USD, up 17.3% in volume and 17.3 percent in volume. increased 43.6% in value over the same period in 2021.
The average export price of Vietnam’s coffee reached $2,261 per ton, up 22.5% over the same period in 2021. The coffee industry contributes 3% of the country’s GDP, creating jobs and stable incomes for over 600,000 farmer households.
According to the Vietnam Coffee and Cocoa Association (Vicofa), in the first seven months of the year, the export turnover of processed and instant coffee products reached about US$345 million, accounting for 14-15% of the total coffee export turnover. .
Vicofa said that if the export price of coffee remains at a high level like in the first half of the year, the whole year 2022 Vietnam’s coffee industry can still set a record turnover of 4 billion USD.
In the Top 10 coffee export markets of Vietnam, there are 6 European countries. The Import and Export Department also said that coffee demand has expanded significantly beyond the EU, US and Japanese markets. North America, Asia-Pacific and Europe. In Asia-Pacific, Japan leads the market, followed by China and South Korea.
The Import and Export Department has suggested that the size of the US coffee market has been growing in recent years and is expected to grow well, 6.74% on average in the period 2020-2027. The health benefits associated with coffee coupled with changing consumption trends are anticipated to drive the US coffee market.
In the Chinese market, instant coffee and ready-to-eat coffee are occupying a large market share thanks to the convenience of use. The demand for coffee in China is increasing at an average rate of 15% per year because people’s demand for coffee increases. Therefore, the potential of coffee import in this market is still very large.
