Monday 22 April 2024
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Vietnam’s coffee exports at record levels in 1Q 2024

Coffee export rose by 44.45 per cent in volume and 54.2 per cent in value over the same period last year, setting a new record for three-month coffee export value

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HANOI, Vietnam – Vietnam shipped nearly 799,000 tons of coffee, worth US$1.9 billion in January-March period, with average price of US$3,500-US$4,000 per ton, said the Ministry of Agriculture and Rural Development.

Coffee was the product with the strongest growth -among all agricultural, forestry and fishery exports – in the first quarter of this year.

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Coffee export rose by 44.45 per cent in volume and 54.2 per cent in value over the same period last year, setting a new record for three-month coffee export value.

Vietnam has increased exports of Robusta and Arabica, while reducing Excelsa.

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Vietnamese coffee is exported to a number of markets including Italy, Spain, Russia, Indonesia, Belgium, China and the Philippines.

Coffee was the second largest agricultural export product, just coming after wood products, in the first quarter of this year, according to the ministry, which expects coffee export will hit a new record of $5-5.5 billion for the full year.

Overall, Vietnam’s agricultural, forestry and fishery sector runs a trade surplus nearly doubling the figure of the same period last year.

The latest updates of the Ministry of Agriculture and Rural Development showed that the agricultural, forestry and fishery export totalled $13.53 billion, an increase of 21.8 per cent over the same period last year, while import reached $10.18 billion, meaning a surplus of $3.36 billion, an increase of 96.5 per cent.

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