Vietnam's coffee and pepper prices continue to rise in 2024

Published 2024년 4월 3일

Tridge summary

In Vietnam, domestic coffee prices have surged to nearly 100,000 VND per kilogram, marking a significant increase. The first quarter of 2024 witnessed a substantial rise in both the volume and value of coffee exports compared to the previous year, despite an anticipated 20% decrease in coffee production for the 2023-2024 crop year. The European Union continues to be the largest market for Vietnam's coffee exports. Alongside coffee, the country's pepper exports have also experienced growth in the early months of 2024, with increases in both export prices and volumes, suggesting a positive trend for the sector.

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

Original content

Domestic coffee prices continue to set new records, reaching nearly 100,000 VND (equivalent to RMB 30.5 yuan) per kilogram. In the first quarter of 2024, Vietnam's coffee export volume reached nearly 600,000 tons, a year-on-year increase of more than 3%; coffee export value reached approximately US$1.9 billion, a year-on-year increase of more than 54%. The Ministry of Agriculture and Rural Development of Vietnam revealed that coffee is the second-highest export product in the agricultural field, surpassing the aquatic industry and second only to the timber industry. The reason is that coffee prices have increased by 43.5% compared with the same period last year, with the average price being US$3,181 per ton. The price of exported coffee has increased, but Vietnam's coffee production has gradually declined and there is not much inventory. The Vietnam Coffee Association (Vicofa) revealed that Vietnam's coffee exports in the 2023-2024 crop year are expected to drop 20% from the ...

Source: Foodmate