Coffee export faces pressure from global uncertainties after record year

VIETNAM, November 21 – HÀ NỘI — After achieving a record export value in the 2021-22 crop year, the coffee industry faces pressure from global unpredictability and rising inflation in key markets.

Statistics from the General Department of Customs indicate that in the first ten months of this year, Vit Nam exported 1.42 million tonnes of coffee, an increase of 10.8 percent compared to the same period in the previous year.

The export revenue increased significantly by 33.7% to reach $3.22 billion. The average coffee export price increased by 21.2% to $2,283 per tonne.

According to the Ministry of Agriculture and Rural Development, Vit Nam had a good coffee harvest with high prices in 2021-22.

Statistics from the Vit Nam Coffee Cocoa Association (VICOFA) indicate that more than $3.9 billion were earned from the export of 1.68 million tonnes of coffee in 2021-22, a record amount.

During the 2021-22 harvest, Vietnam exported 1.5 million tonnes of robusta worth $2.97 billion.

With 216,000 tonnes, Germany was Vit Nam’s largest coffee export market, followed by Italy with 139,000 tonnes, the United States with 126,000 tonnes, Belgium with 120,000 tonnes, and Japan with 111,300 tonnes.

In 2021-22, instant and ground coffee exports totaled 92,000 tonnes worth $598,2 million.

President of VICOFA Nguyn Nam Hi stated that Vit Nam is gradually increasing the export of processed coffee and decreasing its reliance on raw coffee exports, thereby enhancing the coffee industry’s outlook.

International Coffee Organisation (ICO) reports that global coffee exports for the 2021-22 period, which ran from October 2021 to September 2022, totaled 129 million bags (60kg per bag), a decrease of 0.4% from the previous crop.

Arabica exports decreased from Brazil and Colombia, while robusta exports increased by 2.6% to 42,2 million bags.

Vietnam and India were two countries whose coffee exports increased substantially during the 2021-22 crop. Vietnam’s exports of green coffee beans increased by 15.1% to 26.8 million bags, while India’s increased by 26.1% to five million bags.

Read more • einnews.com

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