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Vietnam's coffee exports are expected to hit a new record


According to calculations from the Ministry of Agriculture and Rural Development, the volume of coffee exported in 2023 will reach about 1.72 million tons, earning USD 4.2 billion, meaning it will still set a new record in export value, thanks to an increase of USD 200 million compared to last year's record export value.

Data from the General Department of Customs shows that Vietnam's coffee exports in September 2023 reached 65,000 tons, worth USD 205 million, a decrease of 23.2% in volume and a decrease of 20.8% in value compared to August 2023. Compared to September 2022, coffee exports in September 2023 decreased by 32.7% in volume and 12.8% in value.

In the third quarter of 2023, Vietnam exported 259,000 tons of coffee, reaching a turnover of USD 774 million, a decrease of 20.8% in volume and an increase of 0.4% in value compared to the same period last year.

Accumulated in the first nine months of 2023, Vietnam's coffee exports are estimated to reach 1,266 million tons, worth USD 3.16 billion, a decrease of 7.3% in volume, but an increase of 1.9% in value compared to the same period last year. Regarding type structure, green coffee exports decreased compared to the same period in 2022, but processed coffee exports increased.

Previously, in 2022, for the first time, Vietnam earned more than USD 4 billion from coffee export activities thanks to the third highest volume of coffee exported in 10 years, with 1.78 million tons.

“Vietnam's coffee export price in September 2023 averaged USD 3,151/ton, an increase of 3.2% compared to August 2023 and an increase of 29.6% compared to September 2022. Accumulated over 9 months, Vietnam's average coffee export price reached USD 2,499/ton, an increase of 9.9% over the same period in 2022.”.

Regarding varieties, according to statistics from the Ministry of Industry and Trade, processed coffee export turnover increased nearly 22% in 7 months of this year to USD 448.7 million, accounting for 17% of total coffee export turnover, an increase compared to 15% of the same period last year. In contrast, the proportion of green coffee (including Robusta and Arabica) decreased to 83.3% compared to 85% in the same period. The increase in processed coffee exports also helps increase export value.

According to the Vietnam Coffee and Cocoa Association, in addition to the decrease in supply compared to demand, the fact that Vietnam's coffee industry has made efforts to improve coffee quality is also the reason for the increase in coffee export prices.


Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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