Vietnam spends more than half a billion USD importing coffee

Published 2024년 10월 23일

Tridge summary

In the 2023-2024 coffee crop year, Vietnam experienced a significant increase in coffee imports, reaching a record 139,000 tons, due to domestic supply shortages. This led to a 76% rise in import value compared to the previous year. Despite the high import levels, Vietnam maintained a trade surplus of over 4.9 billion USD in the coffee sector. The average import price of green coffee was 4,194 USD/ton, while the export price was higher at 5,022 USD/ton. Vietnam's main coffee import sources were Laos, Indonesia, and Brazil. On a global scale, coffee production was 178 million bags, with a surplus of 1 million bags as consumption increased by 2.2% to 177 million bags, with most exports being green coffee beans.

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Original content

The 2023-2024 coffee crop year just ended in September, Vietnam imported a record amount of coffee, up 76% over the same period last year According to the Vietnam Coffee and Cocoa Association (VICOFA), by the end of September, the end of the 2023-2024 coffee crop year, Vietnam imported about 139,000 tons of coffee with a turnover of nearly 527 million USD, an increase of about 36% in volume and nearly 76% in value over the same period last year. The closer to the end of the crop, the more coffee Vietnam imports due to the scarcity of domestic supply. In September alone, businesses imported 14,400 tons of coffee, worth nearly 65 million USD, an increase of 54% in volume and 132% in value over the same period last year. In September, Vietnam imported both green coffee (raw materials) and finished products. However, the average price of imported coffee is lower than the export price. For example, the average price of imported green coffee is 4,194 USD/ton while the average export ...

Source: 24h newspaper