Vietnam coffee exports hit $2.8 bln in 8 months

By Tri Duc
Tue, September 6, 2022 | 10:14 am GTM+7

Vietnam earned $2.82 billion from exporting 1.24 million tons of coffee in the first eight months of the year, up 14.7% year-on-year in volume and 39.6% in value.

The country exported 110,000 tons of coffee worth $257 million in August, down 6.2% in volume but up 9% in value, according to the Ministry of Industry and Trade.

The export value increase was attributed to the higher export price amid concerns of a possible shortage in Vietnam and the world. Average prices reached $2,268 per ton in the first eight months, jumping 21.7% year-on-year. The figure was $2,336 per ton in August, up 1.6% on July and 16.1% versus August 2021.

Farmers harvest coffee beans. Photo courtesy of the Ministry of Industry and Trade.

Farmers harvest coffee beans. Photo courtesy of the Ministry of Industry and Trade.

The import-export department, under the trade ministry, expects the global prices of coffee to continue increasing. Vietnam Coffee Cocoa Association (Vicofa) anticipates that with such high export prices, a shortage of supply and concerns over possible unfavorable weather conditions in the next season, Vietnam could earn $4 billion from exporting coffee in 2022, a new record.

Vietnam is the world's second-biggest coffee exporter after Brazil and biggest exporter of Robusta. In the first seven months of the year, Vietnam exported 1.01 million tons of Robusta, worth $2 billion, up 20.1% year-on-year in volume, and 48.7% in value.

Vietnam earned $3.07 billion from exporting 1.56 million tons of coffee last year, down 0.2% in volume but up 12.1% in value year-on-year.

Vietnam's coffee export price in 2021 peaked at $2,344 per ton.

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