In the first half of the year, Vietnam’s coffee exports are estimated to reach 1,042 million tons worth USD2.01 billion, up 11% in volume but down 4.7% in value compared to the corresponding period last year.
Germany and the US remained the two largest importers of Vietnamese coffee in the first five months with export values hitting USD209 million and USD174 million respectively.
The average export price of coffee stood at US$1.929 per ton in the first half of the year, down 14.23%, while the export price for June was US$1.914 per ton, down 2.3%.
On the domestic market, the coffee price was on a downward trend in June, hovering at VND36,000 per kilo, down VND700 per kilo against the corresponding period of the previous month.
Exports to Indonesia soar in value
Vietnam’s coffee exports to Indonesia recorded an 8-fold increase in value in the first five months of the year. According to according to the Ministry of Agriculture and Rural Development (MARD), export earnings reached a total of USD102 million during the January-May period.
This is 97.1% more than the same period last year.
Indonesia are driving up their imports of Vietnamese coffee as it is reasonably priced and has a good quality for the purpose of processing instant coffee, domestic consumption or re-export.
Vietnam’s coffee exports also posted a sharp increase to other markets such as Russia (up 76.8%), the Philippines (54.1%), Algeria (10.8%), and Japan (5.8%).