Coffee export turnover continues to increase thanks to the recovery of demand
In the first quarter of 2021, Vietnam's coffee export volume decreased by 12.2%, but the export price increased by nearly 6% over the same period in 2020.
According to the General Department of Customs, Vietnam's coffee export in the first quarter of 2021 reached 453 thousand tons, valued at USD 808.7 million, a decrease of 12.2% in volume and a 7% decrease in value over the same period in 2020.
In March alone, coffee exports reached 169.6 thousand tons, worth USD 312.06 million, decreased by 7.7% in volume but increased by 1% in value compared to March 2020.
The volume of coffee exports decreased, but the price of coffee exports increased significantly.
Specifically, the average export price of coffee in March 2021 increased by 4.6% compared to February 2021 and increased by 9.4% compared to March 2020, reaching USD 1,840/ton. Accumulated over the first quarter of 2021, the average export price of coffee reached USD 1,785/ton, incresed by 5.9% over the same period in 2020.
In the first quarter of 2021, Germany was still the largest coffee export market of our country, but coffee exports to this market fell 26.6% in volume and decreased by 14.9% in value over the same period in 2020, reaching 64.6 thousand tons, worth USD 113.7 million.
In addition, the volume of coffee exported to other major markets also decreased significantly compared to the first quarter of 2020 such as: Italy decreased by 18.3% (reaching 37.1 thousand tons), the US decreased by 22% (reaching 30.1 thousand tons), Russia decreased by 12.7% (reaching 18.5 thousand tons), etc.
However, the volume of coffee exported to the Chinese market increased strongly by 53.3% over the same period in 2020, to Malaysia increased by 8.3%, to South Korea increased by 25.7%, etc.
Although world coffee demand is relatively positive, the shortage of empty containers and rising ocean freight rates have significantly affected Vietnam's coffee exports.
In the world market, coffee prices tend to increase in the first two months of 2021, with prices fluctuate frequently, increasing and decreasing since March 2021. Futures contracts are affected by concerns about the increasing number of COVID-19 cases in Europe.
The Agro-Processing and Market Development Authority forecasts that the global high-quality instant coffee segment tends to increase as the need to work from home has increased significantly since the outbreak of COVID-19.
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