MILAN – According to the country’s General Statistics Office, coffee exports from Vietnam rose 10.1% on year to 1.72 million tonnes, or 28.7 million 60kg bags. Export revenue was 28.3% bigger than in 2021 at $3.9 billion. However, shipments during the month of December were 17.2% down at 140,000 tonnes earning $314 million.
The Central Highlands province of Dak Lak shipped abroad 380,000 tonnes worth $798 million.
Deputy Director of the provincial Department of Industry and Trade Huynh Ngoc Duong said that Vietnam’s participation in new-generation free trade agreements has created more opportunities for the province’s coffee production, business and export activities, reports Nhan Dan.
In particular, after the European Union-Vietnam Free Trade Agreement (EVFTA) was signed, the EU relaxed the control over processed coffee. Therefore, local enterprises have focused on processing and producing instant coffee to increase the output of processed coffee exports, said the same source.
Coffee prices in Vietnam and Indonesia stayed steady last week as trading activity slowed due to the holiday season.
According to Reuters, farmers in Vietnam’s Central Highlands sold beans COFVN-DAK at 40,000 dong-41,000 dong ($1.69-$1.73) per kilogramme, slightly up from 39,900 dong-40,600 dong a week ago.
“Farmers have harvested around 85% of the 2022-23 crop, and they are expected to increase their sales over the coming weeks to have cash for the upcoming Lunar New Year holiday,” said a trader based in the Dak Lak province quoted by Reuters.
