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Vietnam's coffee export prices rise

 Last Update: 2021-07-30
 Source: Internet
 Author: User

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Vietnam’s "Ministry of Industry and Trade" reported on July 27 that although the new crown epidemic is still spreading, coffee exports to certain markets are still actively growing
.
The average export price of coffee to most major markets has risen
.
But container shortage problem is not resolved, the import business requires Delivery FOB replaced by the CIF, making profits did not increase
.

According to statistics from the General Administration of Customs of Vietnam, Vietnam exported 833,200 tons of coffee in the first half of the year, with an export value of US$1.
55 billion, a year-on-year decrease of 10.
3% and 2.
6% respectively
.
The average export price of Vietnamese coffee reached US$1835/ton, an increase of 8.
6% year-on-year.
Among them, the average export price of coffee to most major markets has increased, except for China
.

　　Germany, the United States and Italy are the top three coffee consumer markets in Vietnam in the first five months of this year, with market shares of 13.
8%, 7.
8% and 7.
3% respectively
.
In the first five months of 2021, coffee exports to Indonesia increased the most (+105.
7%)
.

　　According to statistics from the International Trade Center, in the first five months of 2021, Canada increased coffee imports from Colombia and Vietnam, but reduced imports from Brazil, the United States, Guatemala and Honduras
.
Vietnam is Canada's 7th largest coffee supplier.
In the first five months of this year, exports reached 3.
41 million tons, with an export value of over 7 million U.
S.
dollars, a year-on-year increase of 1.
9% in volume and a 9.
6% increase in export value
.

　　According to data from the Vietnam Industry and Trade Information Center (Ministry of Industry and Trade), Vietnam exported 17,000 tons of coffee to South Korea in the first five months of this year, with exports reaching 31.
4 million U.
S.
dollars, a year-on-year increase of 2.
8% and 5.
3% respectively
.
The average price of coffee exported to the Korean market in the first five months of this year reached US$1845/ton, a year-on-year increase of 2.
4%
.
Exports of processed coffee to South Korea in the first five months of this year amounted to 10.
4 million U.
S.
dollars, an increase of 15.
2% year-on-year
.
Vietnam is South Korea's second largest coffee supplier
.

　　The U.
S.
Department of Agriculture predicts that in the 2021-2022 crop year, Vietnam’s coffee production will increase by 1.
8 million bags to 30.
8 million bags, and the export of coffee beans is expected to increase by 3 million bags to 26 million bags, which will help reduce inventories
.

Outbreak coffee export price imports

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