As of October 15, Vietnam had exported 1.13 million tons of coffee, earning nearly USD 4.5 billion. And in just the first 15 days of October, the turnover reached USD 125.8 million, a record increase of 98%.

In the world market, coffee prices on the two exchanges in London and New York were stable on the first day of the week.

Accordingly, the online price of Robusta coffee for November delivery on the London exchange stood at USD 4,702/ton. The price of the January 2025 contract reached USD 4,615/ton.

On the New York Stock Exchange, the price of Arabica coffee for December delivery reached USD 257.3 cents/pound. The price of the contract for March 2025 delivery was at USD 256 cents/pound, according to the Financial Times.

According to the latest statistics from the General Department of Customs, in the first 15 days of October, Vietnam's coffee exports reached 21,489 tons, worth USD 125.8 million, a decrease of 23.2% in volume and 21.1% in value compared to the second half of September, but an increase of 20.5% in volume and 98% in value compared to the same period last year.

From the beginning of the year to October 15, Vietnam exported 1.13 million tons of coffee with a turnover of USD 4.44 billion, a decrease of 11.1% in volume but an increase of 39.1% in value compared to the same period in 2023.

Coffee export prices from the beginning of the year to mid-October averaged USD 3,933/ton, an increase of 56.6% over the same period last year.

In the first 15 days of October, the average export price reached USD 5,855/ton, an increase of 4.8% over the previous month and the highest level ever achieved.

Thus, despite the decrease in output, Vietnam's coffee export turnover still set a new record high after only 9.5 months, surpassing the figure of USD 4.24 billion achieved in the whole year of 2023.

Vietnam began harvesting coffee in October and peaked in November and December, with some regions continuing to harvest until January next year. The additional supply from Vietnam is also one of the reasons why coffee prices have had difficulty increasing recently, according to Industry and Trade.

Vietnam's coffee output in the 2024-25 crop year could fall by up to 10% due to the worst drought in nearly a decade, which lasted from March to early May, according to a Reuters survey of five traders and industry representatives.

Regarding coffee, although the output in the 2024-2025 crop year is expected to decrease due to the impact of drought, global coffee consumption is on the rise, especially from major markets such as the US, EU and Asia. This will create a positive momentum for Vietnamese coffee exports, helping to maintain the growth momentum in export turnover in the last months of the year.

Kylie Nguyen