Vietnam's coffee has excellent export opportunities to the EU market
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- Business
- 14:21 23/03/2022
DNHN - The coffee industry in Vietnam, especially in the Central Highlands, has seen many positive changes thanks to the EU-Vietnam Free Trade Agreement (EVFTA).
According to the forecast of the Ministry of Industry and Trade, coffee, cashew nuts, rubber, vegetables, pepper, rice and tea will continue to be strong growth products in 2022. Which, the EU is the market that is forecasted to have strong growth.
In the Central - Central Highlands region, which is considered the "headquarters" of coffee in Vietnam, the export of coffee to the EU has many signs of improvement.
Discussing coffee growing regions in Vietnam, one cannot overlook the Central Highlands, particularly Buon Ma Thuot - Dak Lak, which is regarded the world's largest export market for Robusta coffee.
Positive market signals indicate that the number one product, coffee, will continue to benefit from advantageous tax rates under the EU-Vietnam Free Trade Agreement (EVFTA) to expand market share in the EU's annual coffee import demand of approximately 10 billion USD.
According to statistics of the General Department of Customs, from the beginning of the year until now, the country's coffee exports have reached nearly 400,000 tons, earning over 824 million USD, the average price reaching more than 2,219 USD/ton; an increase of nearly 31% in volume, an increase of approximately 66% in turnover and an increase of nearly 27% in price over the same period in 2021.
These are good signals from the coffee export market right in the first months of this year. The EU-Vietnam Free Trade Agreement (EVFTA) has brought positive impacts to the export of the coffee industry across the country, especially in the Central Highlands.
Germany is Vietnam's largest market, accounting for about 13% of the country's total coffee export volume and turnover of over 47,000 tons. Following that are Belgium and Italy, which account for roughly 10% and 7% of the country's total coffee export volume and turnover, respectively.
Mai An
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