Vietnam's coffee has excellent export opportunities to the EU market
- 197
- 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
Related news
- Gold peaks, stocks languish: Experts identify opportunities for investors
- What categories are included in the additional audit subjects?
- General Secretary Tô Lâm sounded the alarm on preventing and combating waste
- The potential of the blockchain and cryptocurrency
- Electricity price hike and the long-term energy dilemma
- Institutional obstacles "tie up" enterprises and challenge economic growth
- Vietnam stands poised to seize opportunities in the semiconductor industry
- Southeast enterprises integrate renewable energy into production
- ‘'Bầu Đức'’ and the banana revolution at Hoang Anh Gia Lai
- Foxconn expands investment with additional $80 million for chip production in Bắc Giang
- The National Assembly supports strong decentralization in public investment
- Dr. Nguyễn Văn Thân, Chairman of Vinasme: The 15-17% preferential tax rate fails to truly support small and micro enterprises
- Real estate capital faces risks from credit to bonds
- Vietnam emerges as a new hub in the global semiconductor industry
- Foreign investment: A key driver of Vietnam's economic growth
- Draft resolution on commercial housing: A new opportunity for the real estate market
- VINASME Championship SHB Cup 2024 Golf Tournament: Business leaders shine with elite swings
- Numerous policies supporting businesses in opening shipping routes through Nghi Sơn Seaport
- Removing the "bottleneck of bottlenecks" to unlock production capacity and tap into all development resources
- What can be learned from VinFast's success after becoming the best-selling car brand in Vietnam?
#coffee
TNI Corporation violates payment obligations exceeding 5 billion VND?
The TKT Vietnam Plastic Packaging Joint Stock Company has fulfilled its commitments under the Sales Contract, but the partner has not settled the debt completely, affecting the company's finances and operations.
Đọc thêm Business
Gold peaks, stocks languish: Experts identify opportunities for investors
Gold prices have peaked due to political and monetary factors, but face the risk of adjustment. Stocks remain difficult to recover due to weak liquidity and ongoing foreign net sales.
General Secretary Tô Lâm sounded the alarm on preventing and combating waste
General Secretary Tô Lâm has addressed visible waste and identified invisible forms of waste, delivering a powerful message with profound awakening implications...
Electricity price hike and the long-term energy dilemma
With EVN's third price hike since 2023, rising electricity costs burden households and industries. Experts warn that sustained losses threaten future power projects, urging reforms to boost investment and ensure energy security.
Vietnam stands poised to seize opportunities in the semiconductor industry
In the context of a rapidly evolving global economy driven by digitalization, the semiconductor industry has emerged as a key strategic pillar.
Pilot project for commercial housing to expand land use rights
The National Assembly Standing Committee has submitted a pilot project on commercial housing through land use rights agreements for National Assembly consideration, aiming to unlock resources.
The National Assembly supports strong decentralization in public investment
The National Assembly has approved a policy of decentralization in public investment management, demonstrating a commitment to economic development and creating opportunities for local governments to mobilize resources.
Assoc. Prof. Dr. Tran Kim Chung: The 1987 Land Law laid the foundation for the real estate market
Assoc. Prof. Dr. Tran Kim Chung, former Deputy Director of the Central Institute for Economic Management, states that the 1987 Land Law laid the groundwork for the development of the real estate market.
Bank interest rates on 31st October: Major players compete fiercely
Bank interest rates have been highly volatile, with one bank making its second rate adjustment in the month as of October 31, 2024, underscoring the competitive landscape.
Amendment of the PPP Law: A new direction to unlock investment resources
To address obstacles in investment through the PPP model, the Ministry of Planning and Investment has submitted a proposal to amend the PPP Law, creating a more favorable legal framework for investors.
Real estate capital faces risks from credit to bonds
Amid global economic turbulence, the real estate market faces significant risks from bank credit and corporate bonds.