Coffee exports drop in January
VOV.VN - Vietnam’s coffee exports in January grossed more than US$310 million from exporting 142,544 tonnes, representing a fall of 38.1% against the same period from last year, according to statistics released by the General Department of Vietnam Customs.
This figure represents a rise of 2% in volume and decline of 3.6% in value compared to February, 2022, when the traditional Lunar New Year holiday, known locally as Tet, happened last year. The fall in coffee exports in January can therefore be attributed to Tet.
The EU remained the largest consumer of Vietnamese coffee during the opening month of the year, duly accounting for 43.6% of the total export volume with 62,132 tonnes worth US$135 million.
Other leading coffee export markets include the United States with 10,901 tonnes and Russia with 10,087 tonnes.
The country's export coffee price in January continued to fall for the third consecutive month to an average of US$2,178 per tonne, 2.5% lower than the previous month and equivalent to the same period from last year.
However, coffee prices within the domestic market recorded a strong rebound. According to the Import-Export Department, the domestic price of Robusta coffee in January edged up sharply in line with the global price.
On January 28, the price of Robusta coffee increased from VND3,000 to VND3,100 per kilo compared to December 30, 2022.
Industry insiders assessed that positive news regarding the global economic outlook and a decrease in sales in major exporting countries can be viewed as the main factors that have recently pushed up the global and domestic coffee prices.
