Business

Vietnam’s coffee exports likely to top 5 billion USD for first time

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.

This year's coffee export revenue is predicted to set a new record of 5.5 billion USD, according to the Vietnam Coffee and Cocoa Association. (Photo: VNA)
This year's coffee export revenue is predicted to set a new record of 5.5 billion USD, according to the Vietnam Coffee and Cocoa Association. (Photo: VNA)

Hanoi (VNA) – 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.

Do Ha Nam, Vice President of the Vietnam Coffee and Cocoa Association (VICOFA) and Chairman and CEO of Intimex Group, considered 2024 as a special year for the coffee industry as Vietnamese coffee prices have reached the world's highest for the first time. The export price of Robusta, accounting for some 97% of the coffee output in the country - the world's biggest Robusta producer, is higher than that of Arabica, which is unprecedented.

Since the beginning of the year, Vietnam's coffee export prices have risen continuously.

In January, the price was just over 3,000 USD per tonne, but it surged to 5,855 per tonne in October. It shot up over 90% within just 10 months.

Export prices during the first 11 months of 2024 averaged 4,037 USD per tonne, up 56.9% compared to the same period in 2023, according to the Ministry of Agriculture and Rural Development.

Between January and November, Vietnam shipped nearly 1.2 million tonnes abroad, with a revenue of 4.84 billion USD. Although this represented a 15.4% decrease in volume, the value still went up by 32.8% year-on-year.

Germany, Italy, and Spain are the three largest markets for Vietnamese coffee. Exports grew in all the top 15 markets, with the most significant increases seen in Malaysia and the Philippines – both more than doubling.

Vietnam has just entered the 2024 - 2025 coffee crop year. Looking back on the 2023 - 2024 crop year, coffee exports achieved a new milestone. Despite a more than 12% decline in the export volume to 1.46 million tonnes, the revenue soared by over 33% to reach 5.43 billion USD, the highest revenue recorded in a single crop year and marking the first time exports exceeded 5 billion USD in a crop year.

VICOFA said the new harvest season began in November, with this season's production expected to reach around 1.6 million tonnes. Domestic coffee consumption in Vietnam is forecast to be between 270,000 and 300,000 tonnes. The rise in domestic demand, coupled with lower production, could significantly impact the supply of raw materials for export.

Meanwhile, experts noted that Brazil, the world's largest coffee producer, already finished its harvest season, and its growers are currently reluctant to sell as they wait to see the next crop's output. Therefore, the global coffee market from now through the first quarter of 2025 will depend on coffee-producing countries in the northern hemisphere, especially Vietnam.

As a result, though the harvest season is ongoing, domestic coffee prices are still on an upward trend. Besides, farmers in the Central Highlands, the coffee farming hub of Vietnam, are not rushing to sell due to good revenues from other high-priced farm produce like durian and pepper.

VICOFA are confident in many advantages for Vietnam's coffee exports thanks to increased supply from the new harvest season 2024 - 2025 and high export prices. This year's export revenue is predicted to set a new record of 5.5 billion USD./.

VNA
#coffee #Vietnam #export #coffee price #VICOFA
Follow VietnamPlus

Related News

Coffee harvesting in the growing area of ​​Simexco Daklak Company, Buon Ma Thuot city, Dak Lak province (Photo: VNA)

Coffee price hikes push export revenue up

A sharp rise in export prices has been the major reason behind a surge in the export revenue of Vietnamese coffee sector so far, according to the Vietnam Coffee-Cocoa Association (Vicofa).

See more

An overview of the meeting between representatives from Polish businesses and the Agency for Domestic Market Surveillance and Development. (Photo: Agency for Domestic Market Surveillance and Development)

Polish businesses seek suppliers, partners in Vietnam

MAJAMI, a confectionery manufacturer and trader under Sweet House, is seeking distributors for Polish confectionery products in the Vietnamese market. Meanwhile, GABONA, a distributor and wholesaler of professional cosmetics, hair care and make-up products and beauty accessories, is looking for Vietnamese manufacturers of vegan and natural cosmetics.

Kendra Rinas, Chief of Mission for IOM Vietnam speaks at the event. (Photo: VNA)

Vietnam advances in building, using migrant labour data system: workshop

Data presented in the report reflects effective migration governance in recent years. The average recruitment cost paid by migrant workers dropped by 23.8%, from 164.9 million VND (6,400 USD) in 2021 to 125.7 million VND in 2025. Conversely, average first-month earnings abroad rose by 25.4%, increasing from 22.4 million VND to 28.1 million VND.

Workers produce leather shoes for export at Lefaso Tra Vinh Investment and Production Joint Stock Company in Tra Cu commune, Vinh Long province. (Photo: VNA)

Vietnamese exporters pivot to ease pressure from US tariffs

Pressure from the new US tariff policy is prompting Vietnamese exporters to reassess their strategies. Rather than pursuing volume-driven growth, many are shifting towards higher-value orders, tighter cost control, greater productivity and a more balanced allocation of markets to reduce reliance on a single destination.

A worker handles and stacks goods. Nearly 138,100 businesses were newly founded from January to August, up 7.7% over the same period last year, while more than 40,800 businesses completed dissolution procedures, a jump of 125.5%. (Photo: VNA)

Firm entry and exits point to continued restructuring pressure

Updates from the National Statistics Office last week showed that nearly 138,100 businesses were newly founded from January to August, up 7.7% over the same period last year, while more than 40,800 businesses completed dissolution procedures, a jump of 125.5%.

A Vietnamese business introduces durian cakes to Chinese visitors at the 22nd China-ASEAN Expo (CAEXPO) in 2025. (Photo: VNA)

Vietnam steps up trade, investment promotion at China-ASEAN Expo

According to the CAEXPO Secretariat, Vietnam will once again lease an entire exhibition area of about 3,000sq.m, featuring 170 booths, making it one of the ASEAN countries with the largest exhibition spaces at this year’s event. Nearly 100 Vietnamese businesses have confirmed their participation, including major brands such as Trung Nguyen Group, TH Group, Saigon Coffee and Biti’s.

An overview of the VIFC's Executive Council meeting on September 7 (Photo: VNA)

Six groups of products, services proposed at Vietnam International Financial Centre

Deputy Minister of Finance Nguyen Thi Bich Ngoc said the products and services include investment funds and asset management, asset-backed digital assets, international carbon credits, commodity trading and derivatives infrastructure linked to trade and supply-chain financing, financial technology, and bonds issued at the centre. As these groups are at different stages of readiness, they will be rolled out in phases rather than simultaneously.

The meeting between the Quang Ninh delegation and Siemens Mobility (Photo published by VNA)

Quang Ninh seeks cooperation, investment opportunities in Germany

A Quang Ninh official praised the collaboration between Siemens Mobility and VinSpeed in developing the Hanoi–Quang Ninh high-speed railway and expressed his hope that the project will pave the way for future cooperation between Siemens Mobility and Quang Ninh in modern railway development and workforce training.

At the 10th intersessional meeting of UNCITRAL Working Group III in Ninh Binh province on September 7, 2026. (Photo: VNA)

Vietnam hosts UNCITRAL Working Group III intersessional meeting for first time

By hosting the 10th UNCITRAL Working Group III intersessional meeting, Vietnam wishes to continue playing an active and proactive role in UNCITRAL in general and Working Group III in particular, working alongside the international community to strengthen cooperation, share experience and contribute to the development of the international legal framework.

An Asian customer with a Vietnamese coconut product served with straws (Photo: VNA)

Vietnam’s agricultural exports: Shifting from volume to value

Vietnam has about 1.2 million hectares of fruit-growing areas, producing around 13 million tonnes a year. Its fruits are exported to more than 60 countries, including major markets such as the US, the EU, Japan, the Republic of Korea and China. The country is also among the world’s leading exporters of rice, cashew nuts, pepper and coffee, with its products reaching more than 150 countries, including markets with stringent standards.

A modern production line at Hana Micron Vina Co. Ltd., a wholly invested by the Republic of Korea, in Van Trung Industrial Park in Bac Ninh province (Photo: VNA)

Northern Vietnam attracts 80.5% of new manufacturing FDI in first half

John Campbell, Director and Head of Industrial Services at Savills Vietnam, said investment in electronics and semiconductors continued to concentrate in northern localities, which have developed relatively complete manufacturing ecosystems encompassing industrial infrastructure, technical labour and supplier networks.