According to statistics from Eurostat, in 2023, the EU imported 4.05 million tons of coffee from the world , worth up to 19.17 billion EUR (equivalent to 20.79 billion USD). Compared to 2022, the EU's coffee imports decreased by 9% in volume and 10.2% in value.

The reason for the EU's reduced coffee imports is the economic recession and high inflation, which has caused people to tighten their spending. However, as the economy recovers, Europeans' demand for coffee is expected to explode this year.

According to the European Coffee Federation, the European Union has the highest per capita coffee consumption in the world. The European coffee market size is estimated to reach $47.88 billion in 2024 and is forecast to reach $58.14 billion in 2029, growing at an average rate of 3.96% during the period 2024-2029.

Coffee is one of the most popular drinks in Europe due to its deep-rooted culture and widespread daily consumption. In addition, the demand for coffee is increasing due to the opening of new coffee shops, the development of coffee shop chains and the increasing number of people buying coffee machines.

Therefore, Europe is considered a large potential market that any coffee producing country wants to exploit.

In 2023, the EU imported approximately 1.31 million tons of coffee from the internal market, worth 8.54 billion EUR (equivalent to 9.26 billion USD), down 6.8% in volume and 0.1% in value compared to 2022. In particular, the major traditional sources of intra-bloc coffee for the EU include: Germany, Belgium, Italy, the Netherlands, and France.

In addition, the EU imported 2.74 million tons of coffee from the extra-bloc market, worth up to 10.63 billion EUR (11.53 billion USD), down 10% in volume and 17% in value compared to 2022.

Of which, coffee imports from Brazil reached 921.8 thousand tons, worth nearly 3.3 billion EUR (3.57 billion USD) in 2023, down 11.6% in volume and 24% in value compared to the previous year.

Brazil's coffee share in total EU imports will decrease from 23.41% in 2022 to 22.74% in 2023.

With an export volume of 652 thousand tons of coffee, worth 1.53 billion EUR (1.66 billion USD), Vietnam became the second largest supplier to the EU in 2023 in terms of output, and ranked third in terms of value.

Notably, Vietnamese coffee exports to the EU market only decreased slightly by 1.4% in volume and 0.02% in value compared to 2022. Therefore, Vietnam's coffee market share in the EU's total imports from the world increased from 14.85% in 2022 to 16.08% in 2023.

Currently, the price of green coffee beans in our country has exceeded 100,000 VND/kg - the highest price ever. Specifically, the average coffee price on April 6 was 102,500 VND/kg. In key areas such as Dak Lak , Lam Dong, Gia Lai, Dak Nong, Kon Tum, the highest price of green coffee beans was 104,000 VND/kg.

Mr. Nguyen Nam Hai - Chairman of the Vietnam Coffee and Cocoa Association - said that Vietnam is the world's largest producer of Robusta coffee. Global roasters still have high demand and are looking for sources from Vietnam.

In particular, Europe's import demand is very large and the supply is almost entirely from Vietnam's Robusta coffee, at least from now until the end of April 2024.

“From January to the end of April, EU importers can only rely on Vietnam to buy Robusta coffee because the supply of Robusta coffee from other growing regions in the world has not yet entered the harvest season,” a coffee business leader told VietNamNet reporters when talking about the potential for coffee exports to the EU market. At this time, the supply is low and the price is high, so businesses are considering signing large orders.

According to exporters, Vietnamese Robusta coffee has a relatively solid and irreplaceable position in the world market. Despite the shortage of supply, Vietnamese coffee beans are still sought after by foreign roasters, who are waiting for them instead of looking for new sources of supply. This will be the basis and room for coffee export prices to continue to increase.

Calculations from associations and businesses show that with the current strong export growth while supply has decreased significantly, by the end of April, both farmers and businesses will run out of coffee. This is something that has never happened in the past 30 years in the Vietnamese coffee industry.

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