Strong growth, coffee exports earn nearly 1 billion dollars

(HQ Online) - After just over the first month of the year, coffee export turnover reached 911 million USD, a sharp increase compared to the same period last year.

In less than 2 months, coffee exports have earned nearly 1 billion USD. Photo: internet.

According to the General Department of Customs, in the first half of February (February 1-15), the country exported 56,279 tons of coffee, with a turnover of 184.36 million USD.

In total, from the beginning of the year to February 15, the amount of coffee exported reached 294,545 tons, with a turnover of 911 million USD.

Compared to the same period last year, the volume of exported coffee increased by only 16.7% but the turnover increased by 66.85%. Thus, the average value of each ton of exported coffee at the beginning of this year increased higher than the same period last year.

Specifically, the average export value from the beginning of the year to February 15 reached nearly 3,100 USD/ton, an increase of nearly 43% over the same period last year (equivalent to an increase of more than 900 USD/ton).

Vietnam's main coffee export markets are the EU, the United States, China, Russia, Indonesia...

In particular, the EU continues to be Vietnam's largest coffee export market with 87,748 tons, worth 263.2 million USD (updated according to the market of the General Department of Customs as of January 2024). In the EU, key markets include: Germany with 26,976 tons; Italy with 22,915 tons; Spain with 16,046 tons...

The Vietnam Coffee and Cocoa Association (VICOFA) predicts that 2024 will continue to be favorable for coffee exports. VICOFA believes that export turnover in 2024 could reach 4.5 - 5 billion USD. If this expected figure is achieved, this will be a new record year for coffee export turnover.

Previously, in 2023, Vietnam exported more than 1.62 million tons of coffee, with a turnover of more than 4.24 billion USD, although down 8.7% in volume but up 4.6% in turnover compared to 2022.

Source: https://haiquanonline.com.vn/tang-truong-manh-xuat-khau-ca-phe-thu-gan-1-ty-do-183372.html