| Vietnam's coffee exports earned more than 1 billion USD in 2 months. Coffee price today, March 11, 2024: Domestic coffee price 90,700 VND/kg |
According to statistics from Eurostat, in 2023, the Italian market imported 624,61 thousand tons of coffee from non-EU markets, worth 1.94 billion EUR (equivalent to nearly 2.1 billion USD), down 4.2% in volume and 8.2% in value compared to 2022.
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| Coffee price March 11, domestic coffee price March 11, 2024 |
Although Italy's coffee imports will decrease in 2023, with its large import market capacity, Italy remains a great potential market for coffee producers around the world . Coffee is an indispensable part of Italian culture.
The Italian coffee market is forecast to grow at an average rate of 3.35% per year during the period 2024 - 2029. Market research shows that Robusta coffee dominates the Italian coffee market, with a 56% market share in 2023. Robusta coffee beans have a high caffeine content, making them less sour and more flavorful. This is considered a great opportunity for Vietnamese coffee exporters.
In 2023, Italy will import coffee mainly from sources outside the EU, including: Brazil, Vietnam, Uganda, India, Tanzania, etc. Of which, Italy will import 198,37 thousand tons of coffee from Brazil in 2023, worth 727.31 million USD, down 0.8% in volume and down 10.1% in value compared to 2022.
Brazil's coffee share in Italy's total imports from the non-EU market will increase from 30.65% in 2022 to 31.76% in 2023.
In 2023, Italy imported 150,130 tons of coffee from Vietnam, worth 345.38 million USD, down 0.5% in volume and 1.2% in value compared to 2022. Vietnam's coffee market share in Italy's total imports from the non-EU market increased from 23.13% in 2022 to 24.04% in 2023.
In 2023, Italy will reduce coffee imports from Uganda and India, but sharply increase imports from the Tanzanian market, up 173.2% in volume and 172.3% in value compared to 2022.
However, the volume and value of coffee imports from Tanzania to Italy remain low. In the future, Brazil and Vietnam will remain the two main sources of coffee for Italy.
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