Statistics indicate that Vietnam exported 509,500 tonnes of coffee worth approximately US$2.88 billion in the first quarter of the year, down 12.9% in volume but up 49.5% in value year on year.

Currently, the average export price throughout the reviewed period stood at about US$5,656 per tonne, up 71.7% year on year. Germany, Italy, and Japan represent the three largest consumers of Vietnamese coffee, accounting market shares of 16.2%, 9.9%, and 7.4%, respectively.

Furthermore, the export value of coffee to the German, Italian, and Japanese markets in Jan. – Feb. increased by 79.3%, 32%, and 56%, respectively.

Among the 15 largest markets, Vietnamese coffee exports to Poland recorded a 3.1-fold rise, while those to Indonesia endured a decrease of 37.5%.

At present, the price of raw coffee beans in Vietnam hovers around VND132,300 per kilo. Meanwhile, Robusta coffee which is mainly grown in Vietnam, is being traded in the global market at around US$5,269 per tonne for May delivery and US$5,295 per tonne for July delivery.

According to the Vietnam Coffee - Cocoa Association, the coffee output for the 2024 - 2025 crop is expected to decrease by 5% compared to the previous crop, down to about 27 million bags due to the impact of climate change and reduced cultivation area.

Furthermore, there are signs of a decline in the global coffee demand due to excessively high prices.

Industry insiders predicted, Vietnamese coffee exports could reach over US$6 billion, or even hit the US$7 billion mark by 2025, thanks to the implementation of effective response strategies.

Vietnam’s coffee exports aim for US$6 billion milestone

The Vietnamese coffee industry made a distinct impression in the first two months of this year, with export turnover rising by 26.2% year-on-year to US$1.58 billion while volume falling by 28.4% to 284,000 tonnes, according to the Ministry of Agriculture and Environment.