According to data from the General Department of Customs, Vietnam exported 737,797 tons of coffee in the first four months of the year with a record value of USD 2.5 billion, an increase of 2.8% in volume and an increase of 53.4% in value compared to the same period last year thanks to rising prices.

However, the volume of coffee exported has tended to decrease in recent months. In April alone, the volume reached only 152,073 tons, worth nearly USD 573 million, a decrease of 19.5% in volume and a decrease of 14.7% in value compared to the previous month; Compared to the same period last year, a decrease of 7% in volume but an increase of 43.6% in value.

This is the third consecutive month that coffee exports have decreased compared to the same period last year, a sign that supply in the current crop year may be running out.

At the end of the first 7 months of the 2023-2024 crop year (from October 2023 to April 2024), coffee exports reached more than 1.1 million tons, a decrease of 1.5% compared to the same period of the 2022-2023 crop year. With this result, Vietnam has exported about 65 - 70% of the total expected output of about 1.6 - 1.7 million tons of the current crop year.

In April, Vietnam's coffee export price reached an average of USD 3,768/ton, an increase of 6% over the previous month and an increase of 54.5% over the same period last year. In the first 4 months of the year, export prices increased by 49.1% to an average of USD 3,389/ton.

Regarding the market, the EU is Vietnam's largest coffee consuming market in the first 4 months of the year, accounting for 40.8% of total export volume with 300,885 tons, worth more than USD 1 billion, an increase of 5.8% in terms of export volume and 62% in value over the same period in 2023. In particular, the volume of coffee exported to Germany decreased by 2.8%; to Italy increased by 4.8%; to Spain increased by 53.7%; to the Netherlands increased by 60.5%, etc.

Followed by Japan with 50,134 tons, worth USD 181.1 million, an increase of 32.6% in volume and an increase of 84.2% in value over the same period.

In addition, the volume of coffee exported to a number of other markets in Asia also increased compared to the same period last year such as: Indonesia (an increase of 75%); Philippines (122%); China (33%); Thailand with a strong increase (204%); Malaysia (68%), etc.

Kylie Nguyen