In the first 6 months of 2024, Vietnam exported 902,000 tons of coffee, a decrease of 10.6% over the same period last year. However, due to high export coffee prices, coffee export turnover in the first half of this year reached USD 3.2 billion, an increase of 34.5% over the same period last year.

According to the Ministry of Agriculture and Rural Development, in June 2024, Vietnam exported 84.6 thousand tons of coffee, a decrease of 40% over the same period last year. However, because export coffee prices increased by more than 50% over the same period last year and reached a record high ever, the coffee export value in June 2024 still reached USD 300 million.

Accumulated over the first 6 months of 2024, Vietnam exported about 902 thousand tons of coffee, a decrease of 10.6% over the same period last year. Although output decreased, due to rising prices, the country's coffee export turnover in the first 6 months of 2024 reached USD 3.2 billion, an increase of 34.5% over the same period last year.

The Ministry of Agriculture and Rural Development predicts that in 2024, coffee export value will definitely exceed USD 5 billion, possibly even reaching USD 6 billion - the highest level in history.

According to the Vietnam Coffee - Cocoa Association (VICOFA), although the volume of coffee exported in the first half of 2024 decreased sharply, accumulated over the first 9 months of the 2023-2024 crop year, the volume of coffee exported by Vietnam is estimated to reach 25.25 million bags (equivalent to 1.52 million tons, an increase of nearly 7.6% over the same period last year).

According to VICOFA forecast, "the volume of coffee exported in July, August, and September will gradually decrease, due to running out of supply. We have to wait until October, when the coffee harvest begins, for Vietnam's coffee supply to increase again".

Also according to VICOFA, Robusta coffee output in the 2024-2025 crop year will only reach 1.28 - 1.35 million tons, a decrease of up to 20% compared to the 2023-2024 crop year. However, this number is significantly higher than the forecasts previously made by a number of organizations and industry experts.

According to VICOFA, the severe drought in the Central Highlands region earlier this year combined with an outbreak of pests (mealybugs, red spiders, etc.) is negatively impacting crop quality. Notably, drought and pests seriously affect coffee productivity in many places.

Coffee prices on the world market, especially Arabica coffee prices, are being supported mainly from concerns that drier-than-normal conditions in Brazil may negatively impact the growth of coffee trees here.

Kylie Nguyen