Seizing the advantage, Vietnamese coffee conquers a new record

Published 2022년 11월 3일

Tridge summary

Vietnam is set to achieve a record coffee export turnover of $4 billion in 2022 due to a combination of increased output and high export prices. The country's coffee exports in the first nine months reached $3.1 billion, a 37.6% increase from the previous year, with the European Union being the largest consumer. The growth in coffee exports is attributed to the tariff advantage from the EU-Vietnam Free Trade Agreement and the recovery in global demand for coffee after the COVID-19 pandemic. Vietnam's coffee yield has also increased significantly, reaching more than three times the world average.

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

Original content

The world is facing a supply shortage, while Vietnam's coffee harvest season is approaching with an expected increase in output, along with a good grasp of opportunities from the market, Vietnam's coffee exports this year are forecasted. Nam can set a record turnover of 4 billion USD. According to the Ministry of Agriculture and Rural Development, coffee exports in nine months reached nearly $3.1 billion, up 37.6% over the same period last year. The special thing is that this growth is contributed by export prices with an increase of nearly 22% and an average of about USD 2,280/ton. The European Union (EU) continues to be Vietnam's largest coffee consumption market with a market share of 39% of the total export volume in 8 months, reaching nearly 490,700 tons with a value of $1.1 billion, compared to with the same period last year increased over 27% in volume and over 54% in value. According to the Institute of Policy and Strategy for Agriculture and Rural Development, in the EU, ...

Source: Vinanet