Coffee exports reach over US$2 billion over five-month period

VOV.VN - During the opening five months of the year Vietnam shipped 889,000 tonnes of coffee worth over US$2 billion abroad, representing a year-on-year rise of 24.2% in volume and 54% in value, according to the Ministry of Industry and Trade (MoIT).

May alone witnessed the country export 150,000 tonnes of coffee worth US$343 million, representing a decline of 4.7% in volume and 5.4% in value compared to April, but up 15.2% in volume and 40.7% in value against the same period from last year.

According to industry insiders, global coffee prices are projected to continue rising in the future, thereby creating a wealth of opportunities for coffee exporters, including Vietnamese businesses to boost their exports.

Furthermore, the domestic price of Robusta coffee looks set to recover in line with global prices.

Most notably, the average export price of Vietnamese coffee in May stood at US$2,248 per tonne, down 0.8% over the previous month, but up 22.1% against May, 2021. This duly brings the five-month export price to US$2,251 per tonne, up 24% compared to the same period from last year.

Experts anticipate that coffee prices will continue to edge up due to a shortage of supply sources of high-quality wet-processed Arabica coffee to the New York floor from Mexico, and favourable transportation and delivery conditions from other countries.

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