With coffee prices consistently high and export markets showing impressive growth, Vietnam’s coffee industry is entering a golden phrase, requiring it to reposition itself on the global map through better quality, branding, transparent traceability, and sustainability, according to insiders.

VOV.VN - The surge in coffee prices has propelled the export value of the commodity to reach a record high of US$1.16 billion in March, marking a sharp rise of 72% compared to the same period last year, according to the Ministry of Agriculture and Environment.

Vietnam exported 309,505 tonnes of coffee, earning approximately US$1.72 billion in the first two months of this year, according to the Department of Customs.

Vietnam is known as one of the world’s leading producers and exporters of coffee, however, it took nearly a century for coffee exports to surpass the US$5 billion mark for the first time in 2024.

Coffee prices have increased by over 50% on average this year, enabling the export revenue to potentially surpass US$5 billion for the first time.

Coffee export revenue is projected to reach a record US$5.6 billion this year, driven by rising global coffee prices.

A sharp rise in export prices has been the major reason behind a surge in the export revenue of Vietnamese coffee sector so far, according to the Vietnam Coffee-Cocoa Association (Vicofa).

At the beginning of the week, coffee prices continued their downward trend, averaging at VND118,400 (US$4.75) per kilo in the Central Highlands - the largest coffee growing area in the country, according to giacaphe.com.

Coffee export turnover to most traditional markets has increased sharply since the beginning of the year.

The Ministry of Agriculture and Rural Development said that Vietnam’s coffee output in the 2023–2024 crop year is estimated to decrease by 20% compared to the previous crop year, to 1.47 million tonnes, the lowest in four years, putting pressure on Robusta supply in the world market.