VIETNAM’S COFFEE EXPORTS: LESS QUANTITY, MORE VALUE IN 2024’S FIRST FIVE MONTHS

In the first five months of 2024, Vietnam’s coffee exports reached 833 thousand tons, bringing in 2.9 billion USD. Although the volume of coffee exports decreased by 3.9% compared to the same period last year, the value soared by 43.9%.

Export performance in May 2024:

According to the report by the Import-Export Department (Ministry of Industry and Trade), in May 2024 alone, Vietnam exported 95,000 tons of coffee, valued at 400 million USD. Compared to May 2023, the export volume decreased by 36.5%; however, the value increased by 3.9%.

Export Price Fluctuations:

• The average export price in May 2024 reached 4,208 USD/ton, an increase of 11.7% compared to April 2024 and a 63.6% increase compared to the same period last year.
• On average, in the first five months, the export price of coffee reached 3,482 USD/ton, up 49.9% compared to the same period in 2023.

Exports of Coffee Types:

In the first four months of 2024, Vietnam recorded growth in the export of all types of coffee, especially Robusta coffee, the country’s main export coffee.

Robusta Coffee:

• Export volume: approximately 650.57 thousand tons.
• Export value: over 2 billion USD.
• Compared to the same period last year, the export volume of Robusta increased slightly by 0.4%, while the value increased significantly by 58.4%.
• Export share: Robusta accounted for 82.17% of the total volume and 82.15% of the total export value of Vietnam’s coffee.

Robusta Coffee Export Price:

In the first four months of 2024, the average export price for Robusta coffee reached 3,157 USD/ton, an increase of 57.8% compared to the same period last year. Notably, the export price of Robusta to major markets increased significantly.