In a remarkable achievement for the agricultural sector, Vietnam’s coffee exports have crossed the $5 billion mark for the first time during the 2023-2024 crop year, which lasted from October 1, 2023, to September 30, 2024. This milestone highlights the strength and potential of Vietnam’s coffee industry in the global market.
The Vietnam Coffee and Cocoa Association reported that the country exported around 1.46 million tonnes of coffee, a decrease of 12.1% compared to the previous crop year. However, the export value experienced a significant increase of 33.1%, reaching an impressive $5.43 billion—the highest recorded in any coffee season.
This surge in export value is largely attributed to rising coffee prices. In September, the average export price of Vietnamese coffee reached $5,469 per tonne, marking a 5.8% increase from the previous month and an incredible 68.7% increase compared to September 2023.
Throughout the entire 2023-2024 crop year, the average export price was $3,673 per tonne, nearly 50% higher than the previous year. This substantial price rise positions coffee as the agricultural export product with the most significant growth among Vietnam’s major exports.
The European Union remains the largest market for Vietnamese coffee, importing 563,000 tonnes valued at $2 billion during the crop year. Although the volume decreased by 8.6%, the value of exports to the EU surged by 41%.
Germany, Italy, and Spain were the top three markets for Vietnamese coffee, with export values of $607 million, $417 million, and $413 million, respectively. These markets experienced growth rates of 37%, 30%, and 75% compared to the 2022-2023 crop year.
Other key markets, including Japan, also showed strong growth in export value, reflecting the high demand for Vietnamese coffee globally.
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