Vietnamese Coffee Exports Expected to Decrease in 2023/2024 Crop Year

Due to reduced output combined with increased domestic demand, Vietnam's coffee exports in the 2023/2024 crop year are expected to continue decreasing to about 1.4 million tons.

Until April 2024, Europe can almost only rely on Vietnam to buy Robusta coffee. Therefore, coffee prices in Vietnam will continue to increase and may be at the highest level in the world in 2024.

Coffee experts say that coffee prices for the 2023/24 crop year will continue to stay at a high level. By June 2024, if significant economies worldwide continue to reduce interest rates, coffee exports will continue to increase. Because roasters worldwide buy to stock up at this time, coffee prices have little chance of going down.

Forecasting the coffee export situation in 2024, pepper experts acknowledged that coffee exports in the 2023/24 crop year could reach USD 4.5 to 5 billion due to continued increases in coffee prices while output decreases.