Vietnam's coffee export prices continue to surge

According to the Vietnamese Ministry of Agriculture and Rural Development, from January to August 2023, Vietnam’s exports of agricultural, forestry, and aquatic products reached $33.21 billion.The selling prices of many products hit record highs, with coffee remaining at a high level, averaging 2,455 US dollars per ton.As of the end of August 2023, Vietnam's coffee exports reached 1.2 million tons, with an export value of 2.94 billion US dollars. The export volume decreased by 6% year-on-year, but the export value increased by 2.3% year-on-year.This is mainly due to the rise in global coffee prices and the impact of supply-demand imbalance.

This July, Vietnam’s coffee price reached $2,828 per ton, and in August, it hit a new record of $3,054 per ton, an 8% increase month-on-month and nearly 30% year-on-year.This marks the sixth consecutive month of rising coffee export prices in Vietnam.

,,.Consumer preferences in EU countries are also gradually shifting toward Robusta coffee.

Since the European Union released the Deforestation-Free Regulation in June this year, many coffee-producing countries have faced challenges in product traceability, and export difficulties have increased.

Faced with the new EU regulations, to seize the opportunity to accelerate exports, the Vietnamese Plant Protection Department recently held a meeting to strengthen national management of planting area codes and packaging facilities, proposing measures to better monitor this activity and ensure traceability requirements in various markets.The Ministry of Agriculture and Rural Development is closely monitoring production conditions, the supply of agricultural products entering harvest season, and price fluctuations with the Ministry of Industry and Trade, especially for commodities that are significantly affected, in order to flexibly regulate export activities.

giacaphe,20238,,11%,145.896,3.2352.Italy ranked second, with 114,030 tons valued at 252.48 million US dollars, accounting for 8.5% of the country's total coffee export value.Exports to the US market increased by 11%, reaching 90,515 tons, valued at 237.5 million US dollars, accounting for more than 7% of total production and total sales.

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