2024 is considered 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.
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./.
