According to the Vietnam Coffee Cocoa Association (Vicofa), Vietnam exported nearly 1.7 million tonnes of coffee in the first eight months, earning more than 6 billion USD. Export volume rose by over 10% year on year, while export value fell by 11.2% due to lower export prices.
Vietnamese coffee already compliant with EUDR requirements is being sold at a premium of around 50 USD per tonne. Once the regulation is fully enforced, opportunities for Vietnam's coffee industry will become even greater, an insider said.
Vietnam exported an estimated 150,000 tonnes of coffee worth 552.6 million USD in June, bringing total exports in the first half of the year to 1.1 million tonnes valued at 4.78 billion USD.
VICOFA Vice Chairman Thai Nhu Hiep stated that Vietnam is already the world’s largest producer and exporter of Robusta coffee, with an annual output exceeding 1.8 million tonnes. Vietnamese Robusta coffee has several advantages, including favourable natural conditions and large, concentrated growing areas, which provide a stable supply.
Vietnam targets increasing the exports of roasted and instant coffee and reach an export turnover to 5-6 billion USD by 2030.
The strong growth in export value in the first two months of the year is evidence of the industry's potential, he said, underscoring the need to continue investing in processing technology, expanding markets, and responding flexibly to global fluctuations.
Coffee prices have increased by over 50% on average this year, enabling the export revenue to potentially surpass 5 billion USD for the first time.
Vietnam’s coffee exports exceeded the 5 billion-USD mark for the first time in the 2023-2024 crop year, that lasted from October 1, 2023 to September 30, 2024.
