Vietnam’s coffee exports jump to record high of 1.8 million tonnes

Vietnam exported a record high of nearly 1.8 million tonnes of coffee during the 2017-2018 crop, 12.7% higher than the previous one, the Vietnam Coffee-Cocoa Association (VICOFA) has said.

Coffee harvest in the Central Highlands province of Dak Lak 
During the crop, which runs from October 2017 to September 2018, Vietnam shipped more than 29.9 million bags of coffee abroad and earned US$3.48 billion. As prices of coffee beans has plunged to the lowest in the last 50 years, with each tonne being sold at US$1,943, 3.43% lower than the previous crop, the Southeast Asian country only experienced a slight increase of 8.43% in export turnover.

According to the Ministry of Agriculture and Rural Development, some 1.57 million tonnes of coffee were sold abroad for US$2.98 billion during the January-October period, up 21.3% in volume and 0.9% in value as compared to the same time last year.

The average coffee price in the ten-month period fell 16.2% to US$1,901 per tonne.

Germany and the US remained the biggest coffee importers of Vietnam, with market share of 12.5% and 9.6%, respectively. Coffee shipments to Germany rose 14.4 in terms of volume, but decreased 6.6% in value. Meanwhile, coffee exports to the US declined 3.6% in quantity and 20 percent in value.

The International Coffee Organisation (ICO) said that coffee production during the 2017-2018 crop was estimated to grow 5.7% to 164.81 million bags. Brazil was the largest coffee producer in the period, followed by Vietnam and Indonesia.

Coffee supply was 2.58 million bags higher than demand, pulling coffee price down to 111.51 US cents per pound from 132.43 US cents per pound recorded in the 2016-2017 crop. Currently, coffee volume remains high in stocks of many importers, ICO said.

Since mid-October, Vietnamese coffee bean has been sold at around VND35,600-VND36,700 per kilogramme, which goes up slightly but is still lower than average prices of the previous years. 

Vietnam’s coffee scarcity and Indonesia’s export limitation sparked an increase in coffee prices, experts said, but there is no bright prospect for coffee prices in the 2018-2019 crop due to abundant supply.

Related

Value of coffee exports to Indonesia soars
Value of coffee exports to Indonesia soars

VOV.VN - The value of Vietnam’s coffee exports to Indonesia saw a sharp rise in the first five months of the year, according to the Ministry of Agriculture and Rural Development (MARD).

Value of coffee exports to Indonesia soars

Value of coffee exports to Indonesia soars

VOV.VN - The value of Vietnam’s coffee exports to Indonesia saw a sharp rise in the first five months of the year, according to the Ministry of Agriculture and Rural Development (MARD).

Coffee exports rise, but value stagnates
Coffee exports rise, but value stagnates

Vietnam exported 1.46 million tonnes of coffee worth US$2.77 billion in the first three quarters of 2018, an increase of 20.1% in volume and 0.4% in value compared to the same period last year.

Coffee exports rise, but value stagnates

Coffee exports rise, but value stagnates

Vietnam exported 1.46 million tonnes of coffee worth US$2.77 billion in the first three quarters of 2018, an increase of 20.1% in volume and 0.4% in value compared to the same period last year.

Coffee exports estimated at US$3 billion
Coffee exports estimated at US$3 billion

VOV.VN - Vietnam is expected to export around 1.5 million tons of coffee with an estimated value of US$3 billion from the 2017-2018 crop, up 0.8% in volume but down 10.5% in value, according to the Vietnam Coffee and Cocoa Association (VICOFA).

Coffee exports estimated at US$3 billion

Coffee exports estimated at US$3 billion

VOV.VN - Vietnam is expected to export around 1.5 million tons of coffee with an estimated value of US$3 billion from the 2017-2018 crop, up 0.8% in volume but down 10.5% in value, according to the Vietnam Coffee and Cocoa Association (VICOFA).