Hanoi—Vietnam’s coffee exports have generated nearly $4.4 billion in the first nine months of this year, topping the total revenue of 2023.
According to Namibia Press Agency, the Ministry of Agriculture and Rural Development revealed on VnExpress that the significant revenue from January to September represents a 40% increase compared to the same period last year, driven by high global coffee prices. The average price per ton reached an all-time high of $5,469 in September, marking a substantial premium in the market.
From January to September, the average price was recorded at $3,897 per ton, which is a 56% increase year-over-year. Coffee has stood out among Vietnam’s main export items, registering the largest hike in export prices among agricultural products, the ministry noted.
The Vietnam Coffee and Cocoa Association has forecasted that the country will encounter several challenges in the 2024-2025 crop year due to adverse weather conditions, potentially reducing coffee output by 5-15%. Despite these challenges, the Ministry of Agriculture and Rural Development remains optimistic about the export revenue prospects, anticipating that the total could surpass $5 billion and possibly reach $6 billion for the year, buoyed by the continuing high prices.
