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

VOV.VN - Vietnam exported 1.15 million tonnes of coffee worth US$4.57 billion during the past 10 months of the year, a drop of 11.1% in volume but up 39.2% in value compared to the same period last year, according to the General Department of Vietnam Customs.

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).

Vietnam’s coffee exports exceeded the US$5 billion mark for the first time in the 2023-2024 crop year that lasted from October 1, 2023 to September 30, 2024.

The Vietnamese Embassy in Italy, in collaboration with Italian and Vietnamese partners, organised a forum on connecting the coffee industries of the two countries on October 9 as a key event during the ongoing Vietnam-Italy Coffee Day in Turin city.

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

The average export price of Vietnamese coffee to the UK in the first half of 2024 reached US$3,941 per tonne, marking an increase of 68.4% year-on-year.

The export value of Vietnamese coffee to Canada reached over US$4.4 million in the first quarter of 2024, up 12.2% compared to the same period last year.

Vietnam's coffee exports has topped US$3 billion so far this year.

Vietnamese coffee exports to the Spanish market reached approximately 55,380 tonnes in the first four months of this year, worth US$193.1 million, an increase of 53.7% in volume and 136.6% in value compared to the same period last year.