Coffee exports can reach $ 5 billion

At the workshop "Solutions for coffee export to reach $5 billion" organized by The Labourer newspaper, taking place on the afternoon of March 30, Mr Nguyen Nam Hai, Chairman of the Vietnam Coffee and Cocoa Association (Vicofa), said that in the first quarter of 2024, Vietnam exported nearly 600,000 tons of coffee with a turnover of about $ 1.9 billion, only increases 3.1% in quantity but increases 54.7% in export turnover compared to the same period in 2023.

Mr. Do Ha Nam, Chairman of Intimex Group, commented that in early 2024, Vietnam's coffee export turnover increased impressively thanks to record high selling prices, reaching VND 100,000/kg in recent days. With current developments, the coffee export target of $ 5 billion this year is not a challenge.

Mr Nguyen Quang Binh, a coffee market analyst, also said that the turnover was achieved in the first quarter, combined with the amount of coffee that will be exported in the remaining 3 quarters at a price of over $ 3,000/ton, the coffee industry is considered to have reached $ 5 billion this year.

According to the Organizing Committee, the second "Honoring Vietnamese Coffee-Tea" Program will create a launching pad to enhance the position of Vietnamese coffee and tea on the world agricultural product map. Also from here, we hope that in the coming time, there will be many other favourable factors that will add value to the country's coffee and tea industry.