Take advantage of opportunities from UKVFTA to promote Vietnamese coffee exports to the UK market

Published 2022년 3월 19일

Tridge summary

In 2021, the UK's coffee imports experienced a decline with a market share of 17.04% from Vietnam, as the average import price increased by 7.5% due to the pandemic's impact and preferences for instant coffee. Despite this, the UK's agricultural trade is expected to recover positively with the UK's trade strategy and FTAs, including the Vietnam-UK FTA. The Vietnam Trade Office in the UK plans to attend the Food & Hospitality Ireland 2022 conference to further promote agricultural trade. Meanwhile, Vietnam's coffee exports have seen a significant increase in the first two months of 2022, reaching a value of $823.1 million, up by 65.8%, despite geopolitical tensions with Ukraine.

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

Original content

Coffee exports to the UK only account for 17.04% of the market share. The Import-Export Department (Ministry of Industry and Trade) quoted data from the International Trade Center (ITC) as saying that in 2021, the UK will import coffee at 203.38 thousand tons, worth 945.56 million USD, down 12.7% in volume and 6.2% in value compared to 2020. By 2021, the average import price of coffee into the UK will reach 4,649 USD/ton, an increase of 7.5% compared to 2020. In which, the average import price of coffee from most of the main sources increased, except for Indonesia. The highest price increase of 18.6% came from Colombia; the lowest price increase of 6.7% from Vietnam. The UK's coffee imports from Vietnam in 2021 will decrease by 35.5% in volume and 31.1% in value compared to 2020, reaching 34.65 thousand tons, worth 66.16 million USD. Vietnam's coffee market share in total UK imports will decrease from 23.03% in 2020 to 17.04% in 2021. In 2020 and 2021, UK coffee imports will ...

Source: Vinanet