Despite the fact that Vietnam now ranks second among coffee exporters and has become an important member of the International Coffee Organisation (ICO), most of its coffee is exported unprocessed.
Therefore, foreign importers are still in the dark about Vietnam’s processed coffee.
In the near future, businesses should concentrate on increasing the production of processed coffee for export to increase its added value.
According to the ICO, last year’s global coffee production stayed at almost 7.5 million tonnes, a decrease of nearly 300,000 tonnes compared with the previous year. This was mainly due to a drop in production in Brazil, Vietnam and Colombia.
This year’s global coffee consumption is estimated at nearly 8 million tonnes. Despite this fact, the export prices of Vietnamese coffee are continuing to fall sharply. The average export price in March was only US$1,370 per tonne, the lowest level since November 2006.
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