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Vietnam still has a lot of room for coffee exports to the US, Germany and France

 Last Update: 2022-04-17
 Source: Internet
 Author: User

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(NDO) According to the Ministry of Agriculture and Rural Development of Vietnam, in February 2022, world coffee prices will rise
.
Specifically, the price of Robusta coffee in the London market for March 2022 delivery increased by $174/ton to $2,349/ton
.
Continued declines in world coffee inventories have led to higher coffee prices
.

The domestic coffee market rose with the trend of the world coffee market
.
The price of green coffee in the provinces of the West Plains is currently VND40,800 to VND41,400/kg, up by VND1,600/kg
.
The FOB price of Robusta coffee for delivery at Ho Chi Minh Port rose by $59/ton to $2,289/ton
.

In the first two months of 2022, coffee exports reached 293,000 tons, with an export value of US$674 million, an increase of 3.
4% and 35.
6% respectively over the same period in 2021
.

The USDA forecasts that Vietnam’s coffee production in the 2021-2022 coffee year will increase by 2.
1 million bags to 31.
1 million bags from the previous crop year, following a severe drought in the previous crop year
.

　　An assessment of the coffee market in 2022 shows that Vietnam has great prospects for increasing coffee exports to the world’s top 5 largest markets, including the United States, Germany , France
, Canada and Italy .

　　The recovery in the world's major economies has also helped to boost coffee consumption
.
The growing trend of instant coffee consumption helps to increase the strength of Vietnamese robusta coffee
.
Robusta is the raw material used to process instant coffee, and Vietnam is the largest exporter of robusta coffee in the world
.

　　The USDA also forecasts that world coffee production in the 2021-2022 crop year will decrease by 8.
5 million bags, equivalent to 4.
8%, to 167.
5 million bags (60 kg type) from the previous crop year
.

　　Global coffee consumption is expected to increase by 1.
5 million bags to 165 million bags in 2021-22, with growth mainly coming from the European Union, the United States and Brazil
.
Global coffee stocks are also expected to fall by 6.
3 million bags to 30 million bags, the lowest level in the past five years
.
(Finish)

coffee price

　　In the first two months of 2022, coffee exports reached 293,000 tons, with an export value of US$674 million, an increase of 3.
4% and 35.
6% respectively over the same period in 2021
.

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