Coffee exports raked in US$2 billion in first half
VOV.VN - Vietnamese coffee exports raked in US$2 billion during the first half of the year, with this being considered a bright spot in terms of farm produce exports during the reviewed period, according to figures given by the General Department of Customs.
According to statistics released by the department, as of June 15 the nation shipped 934,900 tonnes of coffee, a decline of 3.7% on-year, with export prices growing by nearly US$2 per tonne.
The sector has been listed in the “US$1 billion” club since 2010 and reached a peak of US$4.056 billion in 2022. The club includes exports that fetch at least US$1 billion a year.
Vietnamese coffee has been present in 38 markets worldwide, of which it enjoys an export turnover of more than US$10 million in 25 markets and more than US$100 million in six traditional ones.
If export turnover reaches roughly US$360 million a month from now until the end of this year, the sector will set a new record of US$4.5 billion in 2023, up 10.9% compared to 2022.
In order to reach the target, the sector needs to carry out a number of measures, including boosting production, expanding coffee growing area, and increasing the ratio of processed coffee in order to increase export value.
The sector also must restructure domestic and foreign consumption while simultaneously expanding market shares in new foreign markets.