MILAN – According to statistics released by the General Department of Customs of Vietnam, the Asian nation shipped 934,900 tonnes of coffee, or 15.58 million bags, as of June 15 – a 3.7% on-year. However, export revenue rose 3% to $2.4 billion over the same period, the agency said.
If export turnover reaches about $360 million a month from now until end of this year, the sector will set a new record of $4.5 billion in 2023, an increase of 10.9% compared to 2022.
Vietnam aims to review coffee plantation areas, putting a cap on nationwide cultivation at 600,000 hectares and focusing on high-quality coffee, according to the government’s sustainable coffee plan with a vision towards 2030.
Coffee trading in Vietnam remained sluggish last week as the markets took a hit due to the months-long scarcity of beans, reports Reuters.
“Price fell slightly after supportive news about Brazilian robusta supplies,” said a trader based in the coffee belt quoted by Reuters.
“However, it (price) remained high and no export deals were struck in the past weeks, just some small purchases from local roasters,” the trader added.
Cherries were growing fine with supportive weather despite concerns over the El NiNo that may hurt crops, said another trader in the report.
Vietnamese coffee has been present in 38 markets worldwide, of which it enjoys an export turnover of over 10 million in 25 markets and more than $100 million in six traditional ones.
