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According to preliminary statistics from the General Department of Customs, Vietnam’s coffee exports in January reached 238,266 tons with a value of over $726 million, up 14.8% in volume and 21.2% in value compared to the previous month. The average export price reached $3,095/ton, an increase of 5% compared to the previous month.
Vietnamese coffee is highly favored by European countries, with Germany being the largest customer for many years. Specifically, in the first month of the year, Vietnam exported 26,976 tons of coffee to Germany and earned over $79.2 million, accounting for 11% of the total.
Italy ranked second with 22,915 tons, valued at over $64.8 million, accounting for 9%.
Notably, coffee exports to Japan are experiencing record high growth among Vietnam’s major markets. Specifically, in January, Vietnam exported 16,430 tons of coffee to Japan, earning over $54.2 million, an increase of 2.8 times in volume and 3.6 times in value compared to January 2023.
The average export price reached $3,302/ton, an increase of 30% compared to the same period last year.
Japan is the third largest coffee market in the world after the United States and Germany, with business forms such as coffee chains, canned coffee, and convenience stores (Konbini).
In Japan, coffee has become one of the daily beverages. According to the All Japan Coffee Association (AJCA), Japan consumed 423.71 million tons of coffee in 2021, and this figure increased to 432.87 million tons in 2022. Each Japanese person currently drinks an average of 11.5 cups of coffee per week. Coffee beans in Japan are mostly imported from countries such as Colombia, Brazil, Vietnam, etc.
In the domestic market, according to a survey at the end of February, coffee prices in the domestic market reached a 30-year high when surpassing 84,000 VND/kg, an increase of 70% compared to the same period.
Vietnam is the second largest coffee exporter in the world, second only to Brazil. Vietnam is considered the country with the highest coffee productivity in the world, averaging 2.6 tons/ha for Robusta and 1.4 tons/ha for Arabica. The Vietnam Cocoa Coffee Association (VICOFA) forecasts that 2024 will continue to have many favorable conditions for coffee exports, and coffee export turnover in 2024 can reach $4.5 – $5 billion. This will be a new record year for Vietnam’s coffee export turnover.
In 2023, Vietnam exported more than 1.62 million tons of coffee, with a turnover of over $4.24 billion, a decrease of 8.7% in volume but an increase of 4.6% in turnover compared to 2022.
The US Department of Agriculture (USDA) forecasts global coffee production in the 2023-2024 crop year to reach 171.4 million bags, while consumption will reach a record 169.5 million bags. Global coffee inventories are expected to reach the lowest level in 12 years at 26.5 million bags. According to experts’ assessments, the world will not face a shortage or difficulty in Robusta supply, but there will be difficulties with Robusta.
