Vietnam Coffee Exports Reach $4.2 Bln in 2023 Thanks to 28-Year Price High

In 2023, global Robusta coffee prices reached a 28-year peak, causing a 9.6% decrease in volume but a 3.1% increase in value year-on-year. Vietnam’s coffee exports reached nearly $4.2 billion, valued at $4.18 billion. The average coffee export price was $2,834 per ton, a 14.1% year-on-year increase. Vietnam’s coffee industry in 2024 will continue to benefit from high Robusta prices, possibly even peaking due to supply shortages. The country will focus on sustainable development and traceability solutions, particularly meeting EUDR anti-deforestation regulations, to boost exports to the EU market.

Domestic Robusta coffee prices fluctuated strongly in 2023, rising to a record high at the end of the year. On December 27, 2023, the domestic market price of Robusta increased to nearly VND70,000 per kilogram, nearly double compared to the beginning of the year. The U.S. Department of Agriculture estimated world coffee inventories in the current crop at just 26.5 million 60kg bags, the lowest inventory level recorded in the past 12 years.

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