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Trade Trends News
07-05-2024
Vietnam exported about 660,000 tons of coffee as of April 15, valued at more than US$2.23 billion, coffee export data showed. The average price of coffee exports in the first quarter of 2024 reached US$3,289 per ton, up 48 percent from the same period last year. However, in the first half of April alone, the average price of exported coffee soared to US$3,790 per ton.
The Vietnam Coffee and Cocoa Association (Vicofa) said prices are rising as the supply of coffee in Vietnam is gradually decreasing. Businesses and farmers have low inventories, leading to fewer exports between now and the end of the crop season.
In the first six months of the 2023-2024 coffee production, from October 2023 to March 2024, Vietnam exported 956,000 tons of coffee with a total value of more than $3 billion. Thus, the country's total production for the current crop season is expected to be about 1.6 million tons to 1.7 million tons, of which about 60 per cent has been exported.
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