Vietnam's coffee exports in the first half of this year grew by almost 38% in monetary terms, reaching 3, 3 billion USD, reported the Main Customs Department of the Republic.
According to customs statistics, the volume of export shipments of coffee beans in the six months of 2024 exceeded 862,400 tons, which was 8% lower in volume but 38% higher in value compared to the first half of 2023. This is also a record figure compared to the same period in all previous years.
The largest importer of Vietnamese coffee is Germany, which imported more than 104,300 tons of coffee worth almost USD 350 million since the beginning of the year, besides Germany, the top five importers of Vietnamese coffee, along with Italy, Japan and Spain include Russia, whose coffee bean supplies totaled 80,600 tonnes valued at over USD 254 million.
Vietnam Coffee and Cocoa Association (Vicofa) predicts that due to adverse weather conditions, coffee exports could drop by 20% in the 2023-24 growing season to 1.336 million tonnes. At the same time, the association notes that despite the possible decrease in export volumes, their price will still increase due to the rapid rise in coffee prices on the world market.
In May, Vietnam's average coffee export price exceeded USD 4,275 per ton, up 14% from April and 66% from May last year. In the first 5 months of the year, the average export price of coffee from Vietnam exceeded $3,475 per ton, up 41% from the same period last year, the association said. Vicofa expects that by the end of 2024, coffee exports will bring the country about 4.5-5 billion USD.
Vietnam is one of the world leaders in the production and export of coffee. The republic ranks 6th in the world in terms of the area of coffee plantations, while firmly occupying the second place in terms of coffee bean production, which annually amounts to 1.75 - 1.85 million tons.< /p>