Coffee exports hit record high

(ĐN)- Vietnam's coffee export turnover reached over $5.6 billion in 2024, a year-on-year increase of approximately 60%. The average export price in 2024 was nearly $4,200 per ton, marking a record high. In the first quarter of this year, export prices continued to break records, surpassing $5,600 per ton. Forecasts suggest that prices may exceed $6,000 per ton in the near future. This year, Vietnam aims for a coffee export turnover of $10 billion.

The continuous price increase over the past two years is due to extreme weather reducing yields. Additionally, before 2022, low export prices caused financial losses for farmers, leading many to replace coffee with durian and other fruit trees.

In Dong Nai, coffee cultivation has declined significantly over the past five years. By the end of 2024, the province’s coffee-growing area had shrunk to nearly 4,800 hectares, producing around 13,000 tons annually. Most coffee farms in the province practice intercropping with pepper and fruit trees, resulting in lower yields.

Economic experts predict that global coffee demand will continue to exceed supply, driving prices higher. However, to maintain export markets, farmers and businesses must adopt sustainable and traceable production practices. Notably, from mid-2025 onward, coffee exported to the EU must be certified as not grown on deforested land.

Despite being a leading global coffee exporter, Vietnam mainly exports raw beans through intermediaries and lacks strong branding. This limits value-added potential. If the industry invests in deep processing and brand building, export turnover could easily exceed $10 billion, with the potential to reach $15-20 billion or more. Processed coffee can command 2-6 times the price of raw beans in international markets.

Reported by K.M