With proactive business measures, market expansion policies, and improved product quality, Vietnam's coffee industry is still expected to achieve export turnover of around 7 billion USD in 2025.
The Ministry of Culture, Sports and Tourism has officially recognised the coffee planting and processing knowledge of the coffee production hub of Dak Lak as part of the National Intangible Cultural Heritage list, acknowledging the rich agricultural and cultural heritage of the Central Highlands region.
In the 2023-2024 season, Vietnam exported 1.47 million tonnes of coffee worth 5.42 billion USD, an 11.3% decrease in volume but a 33% increase in value as compared to the previous crop. Dak Lak alone shipped abroad over 264,400 tonnes valued at 915.8 million USD, accounting for 17.9% of the country's total volume.
Vietnam recently showcased its certified halal products at the Melaka Halal Festival 2024 in Malaysia, a move to expand its presence in the global halal market.
Vietnam’s agricultural product exports are on track to achieve an unprecedented milestone, with projected revenue reaching 60-61 billion USD this year, up 7-8 billion USD compared to 2023.
Coffee was introduced to Vietnam in the late 19th century. It quickly adapted to the country’s fertile soil and favorable climate, becoming a drink deeply embedded in Vietnamese culture.
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).
It is a great time for Vietnam to build on specialty coffee segment to enhance its global recognition and increase its value in the coffee supply chain, insiders said.
Recently, Michelin highlights six Vietnamese coffee styles which blends traditional and modern influences, including iced milk coffee, egg coffee, and salted coffee.
Vietnam is the second-largest supplier of coffee to the United Kingdom (UK). The average export price of Vietnamese coffee to the UK in the first half of 2024 reached 3,941 USD per tonne, an increase of 68.4% compared to the same period last year.
Vietnam continues to be ranked among the "coffee powerhouses" in the world, supplying a total of 1.63 million tonnes to both the domestic and international markets in 2023.
New records have continuously been set in the prices of coffee in Central Highlands localities recently, now standing at over 90,000 VND (3.65 USD) per kilo.