Vietnam becomes the US’s 3rd largest coffee supplier

Vietnam’s coffee market share in total US imports increased from 6.27% in the first eight months of 2021 to 6.45% in the first eight months of 2022. Vietnam became the third largest coffee supplier for the US, after Brazil and Colombia.

According to information from the Ministry of Industry and Trade, in the early days of October 2022, world coffee prices were under pressure to decrease, leading to the price of robusta coffee in the domestic market falling in line with world prices. On October 8, the price of robusta coffee in the provinces of Dak Lak, Gia Lai, Dak Nong dropped to 46,700 – 46,800 VND/kg; in Lam Dong province was stable at 46,400 VND/kg.

According to the General Department of Customs, in September 2022, Vietnam’s coffee exports decreased by 10.3% in volume, but increased by 4.9% in value over the same period in 2021.

In September 2022, Vietnam exported more than 92,000 tons of coffee, worth over 226 million USD. In the first 9 months of 2022, Vietnam’s coffee exports reached approximately 1.34 million tons, worth 3.06 billion USD, up 13.1% in volume and 37% in value over the same period last year.

Generally in the first nine months of 2022, the average export price of Vietnam’s coffee reached 2,283 USD per ton, up 21.2% over the same period in 2021. Regarding the market, September 2022 over the same period last year. The volume of coffee exported to many key markets fell sharply such as Germany, Belgium, the US, the Philippines and coffee exports to Italy, Japan, Spain and the UK increased.

Source: TheSaigonTimes