Coffee export turnover exceeds 2 billion USD in five months

Illustrative photo (Source: baodautu.vn)

Vietnam shipped 889,000 tonnes of coffee overseas for more than 2 billion USD in the first five months of 2022, up 24.2 and 54 percent year on year, respectively.

In May alone, the country exported 150,000 tonnes of coffee worth 343 million USD, down 4.7 percent and 5.4 percent, respectively.

According to the Ministry of Industry and Trade’s Agency of Foreign Trade, the average price of Vietnamese coffee was estimated at 2,251 USD per tonne, an annual increase of 24 percent.

The agency predicted a rising trend for coffee prices in the time to come. This is an opportunity for coffee exporters, including those from Vietnam, it said.

In 2021, the country's export value of coffee, mainly Robusta, reached 1.52 million tonnes, worth of about 3 billion USD, down 2.7 percent in volume, but up 9.4 percent in value year on year.

The Vietnam Coffee and Cocoa Association has targeted an export turnover of 5-6 billion USD from the product in 2030./.