Coffee exports enjoy price surge over five-month period

VOV.VN - Vietnam’s coffee exports during the five months of the year declined by 3% to US$1.3 billion, despite recording an increase of 7.6% in price compared to the same period last year, according to figures released by the General Department of Vietnam Customs.

May alone saw local coffee exports decrease by over 1% in terms of both volume and value compared to the previous month. However, the coffee export price witnessed a slight increase by 0.2% to US$1,869.3 per tonne.

During the five-month period, the country exported 715,263 tonnes of coffee worth US$1.3 billion, a drop of 12% in volume, but marking a rise of 7.6% in price compared to the same period from last year.

The German market was the primary recipient of Vietnamese coffee exports during the reviewed period, with turnover reaching US$178.67 million, accounting for 14% of the nation’s total coffee export turnover, while the export price also witnessed an annual rise of 15.6% from the same period last year.

Southeast Asia represents the second largest consumer of Vietnamese coffee in the opening five months of the year with turnover at US$149.67 million, down 3.5% in volume but up 6.7% in turnover, while the export price also enjoyed an annual rise of 10.6%.

Coffee exports to the US also decreased 24.7% in volume to US$101.09 million, down 18.6% in value but up 8.1% in price.

Elsewhere, the Chinese market can be viewed as the only bright spot in terms of local coffee exports with turnover increasing by 52.7% to US$52.8 million, up 61% in volume.

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