Harvesting coffee (Photo: VNA)According to the Ministry of Agricultureand Rural Development, the country shipped 1.36 million tonnes of coffeeabroad, earning nearly 3.5 billion USD.
Vietnam entered the new 2023-2024 coffee crop which began in October, when the export price reached a record high, at 3,603USD per tonne, up 8.9% month-on-month, and 40.7% year-on-year.
With over 710,000 hectares, Vietnam rankssixth in the world in terms of coffee farming area, but has the second biggestoutput thanks to high yields (1.75-1.85 million tonnes).
However, out of the total area, only185,000 hectares have received sustainable production certificates of differentkinds.
Harvesting coffee (Photo: VNA)At present, the EU is Vietnam’s biggestcoffee importer, followed by the US and Japan. Although coffee exports to Chinado not account for a high proportion, many Vietnamese businesses are payingmuch attention to this market which has an average increase of more than 25%per year in imports.
However, this is also a highly competitivemarket, requiring businesses to invest in diversifying specialty coffeeproducts and processed coffee, and to meet strict quality standards.
Coffee market expert Nguyen Quang Binhanalysed that currently, major markets such as the EU and the US are changingtheir consumption demand from importing coffee beans to processed coffee.Therefore, Vietnam must also prioritise investment in deep processingfacilities to increase the value of coffee products and aim for sustainabledevelopment./.
VNA
