A sharp rise in export prices has been the major reason behind a surge in the export revenue of Vietnamese coffee sector so far, according to the Vietnam Coffee-Cocoa Association (Vicofa).
Coffee harvesting in the growing area of Simexco Daklak Company, Buon Ma Thuot city, Dak Lak province (Photo: VNA)
Hanoi (VNA) – A sharp rise in export prices has been the major reason behind a surge in the export revenue of Vietnamese coffee sector so far, according to the Vietnam Coffee-Cocoa Association (Vicofa).
The association reported that in the 2023-2024 crop from October 2023 to September 2024, Vietnam shipped abroad 1.46 million tonnes of coffee for 5.43 billion USD, down 12.1% in volume but over 33% in value compared to the previous crop.
In the period, Vietnamese coffee prices at the international market reached 3,673 USD per tonne, nearly 50% higher than those in the previous crop, the highest rise among major agricultural products for export of Vietnam.
Data from the General Department of Customs, as of October 15, Vietnam exported 1.13 million tonnes of coffee to earn 4.44 billion USD, a year-on-year decrease of 11.1% in value but an increase of 39.1% in value.
In the first nine months of this year, the average coffee prices rose 56% year on year to 3,896 USD per tonne.
Experts attributed the price hikes to a decrease in both coffee supply and inventory.
In the 2024-2025 crop, Vietnamese coffee prices is predicted to continue to stay high due to high demands in the domestic and international markets.
ꦆ However, Nguyen Van Hoan, Vice Director of the Department of Agriculture and Rural Department of the Central Highlands province of Gia Lai, one of the major coffee production hubs of Vietnam, advised farmers to maintain stable coffee farming areas to avoid risks of price decrease./.
Vietnam’s coffee exports exceeded the 5 billion USD mark for the first time in the 2023-2024 crop year that lasted from October 1, 2023 to September 30, 2024.
The Vietnamese Embassy in Italy, in collaboration with Italian and Vietnamese partners, organised a forum on connecting the coffee industries of the two countries on October 9 as a key event during the ongoing Vietnam-Italy Coffee Day in Turin city.
In a significant boost to Vietnam's sustainable coffee industry, the Dutch Fund for Climate and Development (DFCD) has awarded a non-refundable aid package of 575,000 EUR (630,786 USD) to Phuc Sinh Corp to support its Environmental, Social, and Governance (ESG) initiatives in the coffee production, processing and export chain.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
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.
