Vietnam's coffee exports to reach $5.5 billion this year

Published 2024년 12월 12일

Tridge summary

The Vietnamese coffee industry is experiencing a significant surge in prices, with the export price reaching US$5,855 per ton in October, marking a 90% increase from the start of the year. Despite a 25.4% drop in export volume, the industry saw a 32.8% increase in export value, generating just over US$4.84 billion from nearly 1.2 million tons of coffee exported from January to November. The country's coffee production is projected to reach 1.6 million tons in the new harvest season, with domestic sales expected to reach between 270,000 and 300,000 tons. The Vietnam Coffee and Cocoa Association anticipates that coffee exports will reach US$5.5 billion this year, setting a new record.

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

Original content

Du Henan, vice chairman of the Vietnam Coffee and Cocoa Association and general manager of Intimex Du Group, commented that 2024 is a special year for the coffee industry, and the price of Vietnamese coffee ranks first in the world. From the beginning of the year to now, the export price of Vietnamese coffee has continued to rise. From more than US$3,000 per ton in January to US$5,855 per ton in October. In just 10 months, the price of coffee has risen by more than 90%. According to the Ministry of Agriculture and Rural Development, from January to November this year, the average export price of coffee was about US$4,037 per ton, a year-on-year increase of 56.9%. Based on this, from January to November this year, Vietnam's coffee exports reached nearly 1.2 million tons, with an export value of US$4.84 billion; although the export volume fell by 25.4%, the export value still maintained a year-on-year growth of 32.8%. Germany, Italy, Spain and other countries are the three major ...

Source: Foodmate