MILAN – 2024 was a successful year for Vietnam ’s coffee industry with exports earning $5,48 billion. The Import-Export Department (Ministry of Industry and Trade) cited preliminary statistics from the General Department of Customs, saying that Vietnam’s coffee exports in the fourth quarter of 2024 are estimated at 208,4 thousand tons, worth 1,16 billion USD, down 2,1% in volume, but up 3,1% in value compared to the third quarter of 2024; down 43,7% in volume, but up 3,9% in value compared to the fourth quarter of 2023.
In the month of December 2024, the average export price of Vietnamese coffee was estimated at 5.450 USD/ton, down slightly by 2,3% compared to November 2024, but sharply up (+88.8%) from December 2023. The average export price for 2024 is estimated at 4.158 USD/ton, up 59.1% compared to 2023.
Domestic prices also reached unprecedented levels during the year. On December 27, 2024, the average price stood 121.500 – 123.300 VND/kg, compared to 54.000 – 54.300 VND/kg on the same day of 2023.
Domestic coffee prices in Vietnam are supported by world coffee prices. In 2024, world coffee prices continued to set new records, mainly due to concerns about supply shortages from major exporting countries such as Vietnam and Brazil due to unfavorable weather.
In 2024, the leading enterprise exporting Vietnamese coffee was Vinh Hiep Company Limited (Gia Lai).
Specifically, Vinh Hiep’s export turnover increased rapidly from $244 million in the 2022-2023 crop year to $520 million in the 2023-2024 crop year.
Mr. Thai Nhu Hiep – General Director of Vinh Hiep Company Limited – said that in 2024, the company has coordinated with the locality to address challenges in developing the coffee industry, complying with the European Deforestation Reduction Regulation (EUDR), reducing greenhouse gas emissions, and producing sustainable coffee to adapt to climate change. Therefore, foreign partners always affirm that Gia Lai’s green coffee bean brand is of good quality. Currently, the company’s coffee products have been exported to 57 countries around the world.
