Nguyen Duc Dung, deputy general director of the Mercantile Exchange of Vietnam (MXV), noted that coffee prices in the global market rose sharply. As a result, Vietnam's coffee export value increased by over 37% during this period, though its export volume decreased by 22%.

On the domestic market, coffee prices in the Central Highlands and southern provinces also reached a record high. On March 14, the price hit approximately VND139,000 (US$5.44) per kilo, which is 50% higher than the same period last year. Prices are expected to rise further in the second quarter due to a supply shortage.

In addition to coffee, Vietnam’s pepper exports experienced a decline in volume but saw a 50% increase in value year-on-year. Consequently, the country earned US$184.4 million from exporting 27,274 tonnes of pepper in the two-month period.

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.