Agricultures, Foods, News & Event
Vietnam’s coffee exports earned nearly 2 billion USD in the first quarter of 2024
According to statistics from the General Department of Customs, in the first 3 months of 2024, Vietnam exported 799 thousand tons of coffee, earning 1.9 billion USD; increase 44.45% in volume and 54.2% in value over the same period in 2023.
According to statistics from the General Department of Customs, in the first 3 months of 2024, Vietnam exported 799 thousand tons of coffee, earning 1.9 billion USD; increased by 44.45% in volume and 54.2% in value compared to the same period in 2023. Thus, coffee has become the strongest growing export agricultural product in the first quarter of this year.
Meanwhile, according to preliminary data from the Ministry of Agriculture and Rural Development, the average export coffee price in the first quarter of 2024 reached 2,373 USD/ton, an increase of 6.8%. However, according to Mr. Nguyen Nam Hai – Chairman of the Vietnam Coffee-Cocoa Association (VICOFA), in fact from the beginning of the year until now, the average export coffee price is very high, up to 3,200 USD/ton. .
Rising export prices have caused domestic coffee prices to increase to the highest level in more than 30 years with more than 92,000 VND/kg, at one point 102,000 VND/kg. This price is double the same period last year and increased by more than 30% compared to the end of 2023.
According to experts, the shortage of coffee sources in the world has created conditions for export activities of Vietnamese enterprises.
Currently, Vietnamese coffee is present in more than 70 countries and territories and is the second largest coffee exporter in the world, only after Brazil.
It is expected that this year, Vietnam’s coffee exports could reach more than 5 billion USD.