This year presents significant prospects for vietnamese coffee

DNHN - Coffee accounts for 3% of the country's GDP and 15% of overall agricultural exports.

Vietnam is the world's second-largest coffee producer, behind Brazil, with a yearly output of 30.1 million 60kg robusta bags.

Vietnam's coffee exports in the first two months of 2022 were projected at 293,000 tons, worth $674 million, up 3.4 percent in volume and 35.6 percent in value over the same time last year.

Vietnam's average export coffee price is $2,299 per ton, up 31.1% from 2021. The outcomes were accomplished owing to industry initiatives to diversify goods, assure quality, digitize sales platforms, and increase e-commerce sales.

The 30-40-acre raw material area has been digitized for 10 years and is more subject to market swings.

Vicofa, the vietnam coffee and cocoa association, aims to double vietnam's coffee exports to $6 billion by 2030.

By increasing the percentage of processed coffee from 10% to at least 25%, vicofa hopes to achieve this goal.

Vietnamese coffee is exported to almost every country, including the EU and Japan.

Europe's coffee-drinking culture has increased the desire for coffee among young Japanese.

According to the international trade center (ITC), Japan will import 409,800 tons of coffee valued at $1.32 billion in 2021, representing a 2.7 percent increase in volume and a 11.6 percent increase in price.

In 2021, Japan will buy more coffee from Brazil and Vietnam but less from important producers, including Colombia, Guatemala, and Ethiopia.

Despite being a discerning coffee consumer, the EU, the world's largest coffee market, accounts for 47.9 percent of total import value and is Vietnam's top coffee customer.

In the Netherlands, 80% of customers choose arabica over robusta. France is also a potential market for premium coffee exporters.

Domestic premium coffee market share could increase from 2% to 10% per year by 2025. The EU - Vietnam free trade agreement (EVFTA) reduces tariffs on processed coffee by 93 percent, allowing for significant market expansion.

Vietnamese coffee market in the EU there are 39 Vietnamese geographic indicators that the EU has agreed to protect under the evfta.

 Mai Anh