Coffee exports hit a record high
Coffee exports in the first quarter of this year were very strong in both volume and value, thereby reaching the highest level of exports in a single quarter ever.
According to the General Department of Customs, Vietnam's coffee exports in the first quarter of 2022 reached 581.7 thousand tons, worth USD 1.3 billion, an increase of 28.3% in volume and 60.2% in value compared to the first quarter of 2021. This is the record high that coffee exports reached in a quarter.
In the first quarter, coffee exports to all regions of the world increased sharply compared to the same period in 2021. In which, coffee exports to the European region increased the most with an increase of 92.6%. The proportion of coffee exports to Europe accounted for 54.39% of the total export value in the first quarter of 2022, much higher than the proportion of 40.71% in the first quarter of 2021.
In contrast, the share of coffee exports to Asia decreased from 45.62% in the first quarter of 2021 to 32.7% in the first quarter of 2022.
The Import and Export Department (Ministry of Industry and Trade) forecasts that in the second quarter of this year, Vietnam's coffee exports will continue to increase thanks to abundant supply and free trade agreements creating competitive advantages for Vietnamese coffee.
However, after a sharp increase in coffee prices in the first months of 2022, in March and April, coffee prices tend to decrease due to the pressure of abundant supply and reduced demand in the short term due to high inflation.
According to the Trade Promotion Department (Ministry of Industry and Trade): as the country with the largest population in the world, China is a very potential market for many Vietnamese products.
Vietnamese tea and coffee hold an important position in the Chinese market. Currently, tea is still a traditional drink of China, but China's coffee consumption demand is on the trend of continuing to increase, especially in developed city areas.
In the Chinese market, instant coffee is taking a large share thanks to its convenience in use. Besides, the development of society, changing lifestyles and acceptance of new cultural trends by Chinese consumers also contribute to increasing demand for instant coffee in this country.
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