DNVN - The Vietnam Coffee and Cocoa Association (VICOFA) said that coffee exports from now until September will gradually decrease, as supplies gradually run out. We have to wait until October, when the new coffee harvest begins, for Vietnam's coffee supply to increase again.
According to data from the General Department of Customs, Vietnam exported 893,820 tons of coffee in the first 6 months of 2024, earning 3.1 billion USD. Compared to the same period last year, the volume decreased by 11.4% but the export value increased by 33.2%. The average export price of Vietnam's coffee reached 3,569.3 USD/ton, up 50% compared to the same period last year.
Regarding markets, Hungary is the Vietnamese coffee export market with the highest average price at 6,821 USD/ton, followed by Israel at 6,099 USD/ton. These are also 2 of 37 markets with an average coffee export price of over 6,000 USD/ton.
At 4,000 USD, Vietnam exported coffee to Singapore at an average price of 4,909 USD/ton, Myanmar at 4,856 USD/ton, Romania at 4,230 USD/ton, New Zealand at 4,189 USD/ton, Philippines at 4,107 USD/ton, South Africa at 4,087 USD/ton, Malaysia at 4,029 USD/ton.
Mexico is the market with the lowest coffee export price, averaging 2,974 USD/ton, followed by India at 3,073 USD/ton, Italy at 3,190 USD/ton...
In terms of volume, Germany leads Vietnam's coffee export markets with 112,249 tons in the first half of 2024, but this figure has decreased by 13% compared to the same period last year. Following behind is Italy with 86,588 tons, down 6% compared to the same period last year; Spain with 64,391 tons, up 19% compared to the same period last year; Japan with 63,127 tons, up 4% compared to the same period last year...
It is forecasted that Vietnam's coffee output in the 2024-2025 crop will decrease by 15-20% compared to the last crop.
Within the ASEAN bloc, Vietnam exports coffee to 8 markets. In general, Vietnam's coffee exports to these markets have grown well compared to the same period last year.
Notably, China is increasing its coffee imports from Vietnam in the first half of this year. Figures from the Chinese Customs Administration show that in the first five months of the year, China imported over 109,850 tons of coffee, worth 490 million USD. This figure increased by 155% in volume and 104% in value compared to the same period last year.
The average price of imported coffee into China reached 4,461 USD/ton, down nearly 20% compared to the same period last year. Of which, the average price of imported coffee into China from many major suppliers decreased, except for Vietnam and Ethiopia.
At the same time, China increased coffee imports from Vietnam by 25% in volume and 80.4% in value over the same period last year, reaching 9.78 thousand tons and worth 31.63 million USD.
Currently, the Vietnam Coffee and Cocoa Association (VICOFA) predicts that Vietnam's coffee export volume in July, August, and September will gradually decrease, due to the gradual depletion of supply. We will have to wait until October and November, when the new coffee harvest season begins, for Vietnam's coffee supply to increase again.
Forecasts from domestic and foreign organizations show that Vietnam's coffee output in the 2024/2025 crop will decrease by 15-20% compared to the previous crop. Low output will lead to a decline in export activities, while also making the supply shortage in the market more serious.
Ha Anh
Source: https://doanhnghiepvn.vn/kinh-te/xuat-khau-ca-phe-tu-nay-toi-thang-9-se-giam-dan/20240716094114405
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