A type of Vietnamese agricultural product that China has secretly spent a lot of money to collect.

Lowering the purchase price in other countries, China quietly spent a huge amount of money to choose to buy a product from Vietnam at an expensive price. Thanks to that, our country became the third largest supplier in this billion-people market.

Giá cà phê và sầu riêng tăng cao đã đem lại kết quả tích cực, làm tăng thu nhập cho người dân, doanh nghiệp, góp phần đẩy mạnh phát triển nông nghiệp của tỉnh Đắk Lắk. (Nguồn: Vneconomy)

The Chinese market accounts for 4.8% of Vietnam's total coffee exports, up from 2.8% in 2023. (Source: Vietnam Agriculture Newspaper)

According to preliminary statistics from the General Department of Customs, in January, China spent nearly 14 million USD (about 357 billion VND) to buy 3,773 tons of coffee from Vietnam. Accordingly, the Chinese market accounts for 4.8% of Vietnam's total coffee exports, up from 2.8% in 2023.

In 2024, this billion-people country will increase coffee imports from Vietnam at expensive prices.

Statistics from Chinese customs show that the country imported 190,900 tons of coffee from 58 countries and territories around the world, worth 972.6 million USD, up 24% in volume and 21.5% in value compared to 2023.

Notably, in the past year, China's average coffee import price from the world reached 5,095 USD/ton, down 2.1% compared to 2023. Of which, China's average coffee import price from Colombia and Ethiopia decreased quite sharply. In contrast, China's average coffee import price from Vietnam increased sharply by 62.7% compared to 2023, to 4,176 USD/ton.

Accordingly, China spent nearly 101 million USD to import 24,100 tons of coffee from Vietnam. Compared to the same period in 2023, the amount of coffee this country imported from our country increased by 65.8% and the value increased dramatically by 169.8%.

Thanks to that, the market share of Vietnamese coffee in China jumped from 9.44% in 2023 to 12.62% in 2024, at the same time helping our country surpass Ethiopia to become the 3rd largest supplier to the billion-people market, behind only Brazil and Colombia.

Experts say that in recent years, China has emerged as a new coffee consumption market as import turnover tends to increase over the years.

And with the remarkable growth in coffee consumption, China is becoming a potential partner of Vietnamese coffee. Therefore, businesses can take advantage of geographical distance and close partnership to promote coffee exports to the billion-people market this year.

Source: https://baoquocte.vn/mot-loai-nong-san-viet-duoc-trung-quoc-am-tham-chi-tien-khung-de-gom-306152.html