Coffee export value exceeds USD 2 billion in the first 5 months of 2023
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- Business
- 21:58 06/06/2023
DNHN - In the first five months of 2023, Vietnam's coffee exports were estimated at 882 thousand tonnes valued at 2.02 billion USD, a decrease of 2.2% in volume but an increase of 0.2% in value compared to the same period in the previous year. last.
Vietnam's coffee exports are projected to reach 165 thousand tonnes worth 396 million USD in May 2023, up 0.9% in volume but down 0.7% in value compared to April 2023, up 15.7% in volume and, 21.8% in value compared to May 2022.
In the first five months of 2023, Vietnam's coffee exports were estimated at 882 thousand tonnes valued at 2.02 billion USD, a decrease of 2.2% in volume but an increase of 0.2% in value compared to the same period in the previous year. year prior.
In May 2023, the estimated average export price of Vietnam's coffee was $2,399 per tonne, down 1.6% from April 2023 but up 5.0% from May 2022. The estimated average export price of our country's coffee for the first five months of 2023 is $2,295 per tonne, a 2.4% increase over the same period last year.
After reaching a high of 64,000 VND/kg at the end of May on the domestic market, the price of coffee in the Central Highlands has decreased to approximately 61,000 VND, which is still a record high over the past ten years.
However, not only farmers but also some exporters reported that rising coffee prices did not benefit them. The current volatility of the coffee market, especially the high financial costs, discourages Vietnamese businesses from stocking up.
The current trend of rising coffee prices could prompt individuals to expand their growing areas. VICOFA also warned that, per the new regulations of the European Union (EU), coffee products originating from degraded and devastated forests will no longer be exported to this market after December 30, 2020.
Currently, Vietnamese coffee companies export between 1.6 and 1.7 million tonnes of coffee annually to Europe. The EU is the largest market for Vietnamese coffee imports, accounting for 45 percent of total exports. In the future, the EU's adoption of regulations regarding the prevention of deforestation and forest degradation will undoubtedly hurt Vietnam's coffee exports.
Ngoc Phi (TH)
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