Vietnam's coffee exports to the Spanish market grow positively

The Import-Export Department ( Ministry of Industry and Trade ) cited data from the General Department of Customs, saying that in April 2024, Vietnam exported 10.74 thousand tons of coffee to the Spanish market, worth 42.66 million USD, down 35% in volume and 29% in value compared to March 2024, but up 18.7% in volume and up 102.8% in value compared to April 2023.

Vietnam's coffee exports to the Spanish market grow positively

In the first four months of 2024, Vietnam exported approximately 55,380 tons of coffee to the Spanish market, worth 193.1 million USD, up 53.7% in volume and 136.6% in value over the same period last year.

In April 2024, the average export price of Vietnamese coffee to the Spanish market reached 3,971 USD/ton, up 9.1% compared to March 2024 and up 70.8% compared to April 2023. In the first 4 months of 2024, the average export price of Vietnamese coffee to the Spanish market reached 3,487 USD/ton, up 53.9% over the same period last year.

According to statistics from Eurostat, in the first two months of 2024, Spain imported approximately 57.76 thousand tons of coffee from the world , worth 227.7 million EUR (equivalent to 246.92 million USD), down 6.6% in volume, but up 8.7% in value compared to the same period last year.

In the first two months of 2024, Spain's average coffee import price from the world reached 3,942 EUR/ton, up 16.4% over the same period last year. In particular, Spain's average coffee import price increased from many major sources, except Brazil, Colombia, France, the Netherlands, and Portugal.

Regarding the supply structure, in the first two months of 2024, Spain imported 41.44 thousand tons of coffee from non-EU markets, worth 129.77 million EUR (equivalent to nearly 140.73 million USD), down 10% in volume and 4.3% in value compared to the same period last year.

Of which, Spain imported 19.57 thousand tons of coffee from Vietnam, worth 57.61 million EUR (equivalent to 62.47 million USD), up 25.5% in volume and 73.5% in value over the same period last year.

Vietnam's coffee market share in Spain's total imports from the world increased from 25.22% in the first two months of 2023 to 33.88% in the first two months of 2024. In the first two months of 2024, Spain also increased coffee imports from Brazil, Uganda, and Peru, but reduced imports from the Colombian market.

In the first two months of 2024, Spain imported 16.31 thousand tons of coffee from the EU market, worth 97.93 million EUR (equivalent to nearly 106.2 million USD), up 3.3% in volume and 32.7% in value over the same period last year. In particular, Spain increased coffee imports from the markets of France, the Netherlands, Portugal, etc., but decreased imports from the markets of Germany, Belgium, etc.

Also according to the Import-Export Department (Ministry of Industry and Trade), in mid-May 2024, Robusta and Arabica coffee prices recovered after falling in the previous days. The sharp increase in coffee prices in recent times has contributed to boosting sales in the spot market.

According to a survey by Safras & Mercado Consulting (a company specializing in research on global agribusiness ), as of May 8, Brazil had sold about 94% of its Arabica coffee output for the 2023/2024 crop year (in the same period of the 2022/2023 crop year, sales reached only 91% of output); Robusta coffee sales reached 97% of output (in the same period of the previous crop year, it was 94%).

In the short term, the world coffee market is not expected to have strong fluctuations. The buying position of fund management companies and large speculators will be moderate from now until the Brazilian winter. Currently, the weather is quite favorable in the Central Highlands of Vietnam.

In mid-May 2024, Robusta coffee prices in the domestic market increased again after falling below VND 100,000/kg. However, favorable weather information in the Central Highlands and exchange rate fluctuations restrained the strong recovery of coffee prices. Recorded on May 29, coffee prices continued to increase and were in the range of VND 115,700 - 117,200/kg. Of which, the highest purchase price in Dak Nong province was VND 117,200/kg. Today's coffee price in Dak Lak province is commonly at VND 116,700/kg. In Lam Dong, the price of green coffee beans (coffee beans, fresh coffee beans) is purchased at VND 115,700/kg. In Gia Lai province, today's coffee price is at VND 116,600 - 116,700/kg.

Source: https://congthuong.vn/xuat-khau-ca-phe-cua-viet-nam-sang-thi-truong-tay-ban-nha-tang-truong-kha-quan-322987.html