Vietnam: Coffee exporting enterprises prepare for the new crop year

Published 2024년 11월 2일

Tridge summary

Vietnam's coffee exports have reached an all-time high of approximately 1.45 million tons and over 5.4 billion USD for the 2023-2024 crop year, despite a 12.7% decrease in output. This increase is due to high coffee prices, with Vietnamese coffee being distributed to over 80 countries. The industry saw significant growth, with Vinh Hiep Company Limited achieving a notable export turnover of 520 million USD. However, concerns about high coffee prices and market sustainability have arisen for the 2024-2025 crop year, as farmers struggle to maintain sales and profits. Experts recommend quality over quantity and prepare for the European anti-deforestation regulation (EUDR), as the Vietnamese coffee industry seeks to remain competitive and sustainable.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Newly harvested coffee in the Central Highlands. Vietnam's coffee exports hit all-time high On October 29, the Vietnam Coffee and Cocoa Association (VICOFA) announced a report on Vietnam's coffee export turnover for the 2023-2024 crop year, recording a total export volume of about 1.45 million tons. Although the output of the last crop decreased by 12.7%, the export value increased sharply by 33% thanks to high coffee prices. This is the first time that Vietnam's coffee export turnover has exceeded 5.4 billion USD, setting a new record in the history of coffee exports. Currently, Vietnamese coffee is present in more than 80 countries and territories, of which Europe accounts for the largest proportion with 48% of the market share, followed by Asia with 21% and the US with 6%. A notable point in the ranking of the largest coffee exporting enterprises is the strong rise of Vinh Hiep Company Limited (Gia Lai). Vinh Hiep achieved an export turnover of 520 million USD, a significant ...

Source: VNRuralEconomics