Average coffee export price sets new record high of 3,603 USD/ton

In the first 8 months of 2023, coffee exports reached 1.2 million tons. Vietnam ranked 2nd in the top 5 markets supplying the most coffee to Italy.

The Import-Export Department (Ministry of Industry and Trade) cited statistics from the General Department of Customs, saying that in October 2023, Vietnam's coffee exports continued to reach a low of 43.72 thousand tons, worth 157.55 million USD, down 14.2% in volume and 6.6% in value compared to September 2023, and down 48.8% in volume and 28.0% in value compared to October 2022.

Giá xuất khẩu bình quân cà phê lập mức cao kỷ lục mới 3.603 USD/tấn

In the first 10 months of 2023, Vietnam's coffee exports reached 1.29 million tons, worth 3.28 billion USD, down 10.7% in volume and 1.2% in value over the same period last year.

In October 2023, Vietnam's average coffee export price continued to set a new record high of 3,603 USD/ton, up 8.9% compared to September 2023 and up 40.7% compared to October 2022.

In the first 10 months of 2023, the average export price of coffee in our country reached 2,535 USD/ton, an increase of 10.6% over the same period last year.

In October 2023 compared to October 2022, coffee exports to most traditional markets decreased sharply in volume; in terms of value, coffee exports to most markets decreased, but to Japan and Spain increased.

In the first 10 months of 2023, coffee exports to Germany, Italy, the United States, Japan, Russia, Spain, and Belgium decreased, but exports to Algeria, South Korea, and China increased compared to the same period last year.

In the world market, in early November 2023, Robusta and Arabica coffee prices increased compared to late October 2023 due to concerns about supply shortages and reports of continued inventory declines.

Robusta coffee prices are expected to rise due to limited supply and increased demand at the end of the year. A report from the port of Santos (Brazil) shows that the export volume in September 2023 was only 76% compared to the same period last year. The market is concerned that this delay could last until the end of the year, forcing roasters to increase purchases of available goods on both exchanges.

According to the latest data released by the General Department of Vietnam Customs, Vietnam's coffee exports reached a record low in October 2023. This shows that Vietnam's off-season shipments seem to be insignificant.

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