Vietnam's coffee exports in the second quarter will increase

(VAN) In 2024, Vietnam exported 756,000 tons of coffee, worth $ 2.57 billion, up 5.4% in volume and 57.9% in value over the same period last year.

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Accordingly, Vietnam's coffee exports in the remaining months of the second quarter of 2024 are forecasted to increase due to rising global demand.

Estimates show that the average export price of Vietnamese coffee in April 2024 reached $ 3,791/ton, up 6.6% compared to March 2023 and up 55.4% compared to the same period last year. Overall, in the first four months of 2024, the average export price of Vietnamese coffee is estimated at $ 3,402/ton, up 49.7% compared to the same period in 2023.

In the global market, it is projected that coffee prices will remain high in the remaining months of the second quarter of 2024.

The coffee consumption market in Europe is currently fluctuating due to the imbalance of supply and demand from Vietnam after Robusta coffee production fell below the average level in the 2022/2023 coffee crop year, estimated at 28.5 million bags in the 2023/2024 crop year.

Additionally, the world relies heavily on high-quality coffee from Brazil annually, so unfavourable weather conditions may cause further fluctuations in the coffee market in the short and medium term.

Author: Phuong Ngoc

Translated by Hoang Duy

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