In the first 11 months of 2023, coffee exports earned $3.54 billion.

Listing 3 agricultural and forestry products subject to the EU's Anti-Deforestation Regulation (EUDR). Average coffee export prices to the US market reached a record high in October 2023.

According to statistics from the General Department of Customs, cited by the Import-Export Department ( Ministry of Industry and Trade ), Vietnam's coffee exports in November 2023 were estimated at 80,000 tons, worth US$252 million, an increase of 83.0% in volume and 59.9% in value compared to October 2023, but a decrease of 37.9% in volume and 17.5% in value compared to November 2022.

In the first 11 months of 2023, coffee exports earned $3.54 billion (photo by Nguyen Hanh).

Overall, in the first 11 months of 2023, Vietnam's coffee exports are estimated at approximately 1.38 million tons, worth 3.54 billion USD, a decrease of 12.9% in volume and 2.5% in value compared to the same period last year.

It is estimated that in November 2023, the average export price of Vietnamese coffee reached US$3,148 per ton, a decrease of 12.6% compared to November 2023, but an increase of 32.8% compared to November 2022.

For the first 11 months of 2023, the average export price of Vietnamese coffee is estimated at 2,570 USD/ton, an increase of 11.9% compared to the same period in 2022.

While exports of Robusta and Arabica coffee decreased compared to the same period in 2022, exports of Excelsa and processed coffee increased.

Notably, Vietnam's Robusta coffee exports to most traditional markets decreased, but exports to Mexico, the Netherlands, Indonesia, and other countries increased sharply.

Regarding Arabica coffee, Vietnam currently mainly exports Arabica coffee to markets such as Belgium, the United States, Germany, the Netherlands, Japan, and Thailand…

In November 2023, while Robusta coffee prices fell in the domestic market, prices of both Robusta and Arabica coffee rose sharply in the global market due to concerns about supply shortages.

According to a report by the Foreign Agricultural Service (FAS) of the U.S. Department of Agriculture (USDA), the potential decrease in the global supply of Robusta coffee from major producing countries in Southeast Asia has prompted funds and speculators to return to the futures market to increase buying; however, the volume remains low due to caution regarding interest rates.

In Vietnam, FAS estimates that the 2023/2024 crop yield will decrease to 27.8 million bags from the estimated 31.3 million bags in May 2023 due to unfavorable weather conditions.

Estimated carryover stocks have been reduced to just 390,000 bags instead of the previously estimated 2.76 million bags.

FAS also forecasts that Indonesia's total coffee production for the 2023/2024 season will decrease by 18.14% compared to the previous 2022/2023 season, to 9.7 million bags. Indonesia is expected to prioritize raw coffee for the domestic industry, reserving only about 5 million bags of green coffee for export, a decrease of 35.02% compared to the previous season.

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