Coffee export turnover exceeds 2 billion USD in five months
Vietnam shipped 889,000 tonnes of coffee overseas for more than 2 billion USD in the first five months of 2022, up 24.2 and 54 percent year on year, respectively.
Hanoi (VNA) – Vietnam shipped 889,000 tonnes ofcoffee overseas for more than 2 billion USD in the first five months of 2022,up 24.2 and 54 percent year on year, respectively.
In May alone, the country exported 150,000 tonnes of coffee worth 343 million USD, down 4.7 percent and 5.4 percent, respectively.
According to the Ministry of Industry and Trade’s Agency ofForeign Trade, the average price of Vietnamese coffee was estimatedat 2,251 USD per tonne, an annual increase of 24 percent.
The agency predicted a rising trend for coffee prices in thetime to come. This is an opportunity for coffee exporters, including thosefrom Vietnam, it said.
In 2021, the country's export value of coffee, mainly Robusta, reached 1.52 milliontonnes, worth of about 3 billion USD, down 2.7 percent in volume, but up 9.4percent in value year on year.
The Vietnam Coffee and Cocoa Association has targeted an export turnover of 5-6 billion USD from the product in 2030./.
Coffee exports in the first nine months of this year decreased in volume but increased in turnover, with Germany being the largest market for the product.
Vietnamese coffee firms are advised to capitalise on chances offered by free trade agreements (FTAs) to bolster shipments to Japan, as Vietnamese coffee is being favoured by local consumers amid an increasing demand for instant type, according to the Vietnam Trade Office in Japan.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
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Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
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Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
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During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
Illustrative photo (Source: baodautu.vn) 
