The EU is Vietnam's largest coffee-consuming market

In the first half of 2024, the European Union (EU) emerged as the largest consumer of Vietnamese coffee, accounting for nearly 40% of the export market share with a volume of 353,468 tons and a value of over 1.2 billion USD. Despite an 8.5% decrease in export volume from the previous year, the turnover experienced a significant increase of 40.7%. The EU's coffee imports from various sources, including Vietnam, saw an uptick of 4.5 billion euros, or 8.7%, compared to the same period in the previous year, with Brazil being the leading supplier. Vietnamese coffee exports to the EU witnessed a 1.5% increase in volume but a 42.4% increase in value, thanks to a substantial rise in export prices. Despite the global Robusta coffee supply shortage, the demand for coffee in the EU is expected to decline due to economic recession and high inflation, with a slight increase expected upon economic recovery. Meanwhile, Vietnam, the world's leading Robusta coffee producer, faces challenges such as unfavorable weather and a decrease in coffee output, which might impact future exports.