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    Home > Food News > Food Articles > Taking advantage of UKVFTA: exporting Vietnamese coffee to the UK market

    Taking advantage of UKVFTA: exporting Vietnamese coffee to the UK market

    • Last Update: 2022-04-16
    • Source: Internet
    • Author: User
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    Vietnam's "Commercial News" reported on March 16 that the Import and Export Bureau of the Ministry of Industry and Trade of Vietnam cited data from the International Trade Center (ITC), saying that in 2021, the UK will import 203,380 tons of coffee , a year-on-year decrease of 12.
    7%; the import value is 945.
    56 million US dollars, a year-on-year decrease.
    6.
    2%
    .
    In 2021, the average import price of coffee in the UK will be US$4,649/ton, a year-on-year increase of 7.
    5%
    .
    Among them, except for Indonesia, the average import price of coffee in most major producing areas has increased
    .
    The price increase in Colombia was the highest at 18.
    6%; the price increase in Vietnam was the lowest at 6.
    7%
    .
     
    In 2021, the United Kingdom imported 34,650 tons of coffee from Vietnam, a year-on-year decrease of 35.
    5%; the import value was US$66.
    16 million, a year-on-year decrease of 31.
    1%
    .
    The market share of Vietnamese coffee in the UK’s total coffee imports dropped from 23.
    03% in 2020 to 17.
    04% in 2021
    .

     
      According to Vietnam's Ministry of Industry and Trade, at present, the British government is actively implementing the "Global Britain" trade strategy to promote exports
    .
    The UK is also preparing to open its domestic market in a "peer-to-peer" manner with foreign partners through free trade agreements
    .
    At the same time, promote the negotiation of free trade agreements with 19 countries or international alliances, among which priority is given to major trading partners such as the European Union, the United States, Japan, and India
    .
     
      In addition, the UK has also confirmed its accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which means that the UK is ready to open up markets for many products from the 11 member states participating in the agreement
    .
    By then, many Vietnamese products in the UK market will have to compete with strong competitors from CPTPP countries
    .

     
      Therefore, Vietnamese enterprises need to quickly seize the opportunities brought by UKVFTA
    .
    In particular, companies must organize production in accordance with British and European standards, and actively establish and develop customer relationships with large distribution groups
    .
    In particular, it is necessary to actively master the shipping storage technology of agricultural products; make good use of the preferential credit policies of British banks and customer credit evaluation and verification services
    .
     
      As for coffee, experts say that in order to stabilize coffee exports to the UK, the Vietnamese coffee industry needs to meet the increasingly stringent requirements of this market
    .
    In addition, the product must suit the tastes of UK consumers
    .

    Import and Export UK Imported Coffee Prices
     
      In 2021, the United Kingdom imported 34,650 tons of coffee from Vietnam, a year-on-year decrease of 35.
    5%; the import value was US$66.
    16 million, a year-on-year decrease of 31.
    1%
    .
    The market share of Vietnamese coffee in the UK’s total coffee imports dropped from 23.
    03% in 2020 to 17.
    04% in 2021
    .

     
      According to Vietnam's Ministry of Industry and Trade, at present, the British government is actively implementing the "Global Britain" trade strategy to promote exports
    .
    The UK is also preparing to open its domestic market in a "peer-to-peer" manner with foreign partners through free trade agreements
    .
    At the same time, promote the negotiation of free trade agreements with 19 countries or international alliances, among which priority is given to major trading partners such as the European Union, the United States, Japan, and India
    .
    exit
     
      In addition, the UK has also confirmed its accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which means that the UK is ready to open up markets for many products from the 11 member states participating in the agreement
    .
    By then, many Vietnamese products in the UK market will have to compete with strong competitors from CPTPP countries
    .

     
      Therefore, Vietnamese enterprises need to quickly seize the opportunities brought by UKVFTA
    .
    In particular, companies must organize production in accordance with British and European standards, and actively establish and develop customer relationships with large distribution groups
    .
    In particular, it is necessary to actively master the shipping storage technology of agricultural products; make good use of the preferential credit policies of British banks and customer credit evaluation and verification services
    .
     
      As for coffee, experts say that in order to stabilize coffee exports to the UK, the Vietnamese coffee industry needs to meet the increasingly stringent requirements of this market
    .
    In addition, the product must suit the tastes of UK consumers
    .

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