Coffee exports reach over US$2 billion over five-month period
In May alone, the country exported 150,000 tonnes of coffee worth $343 million, a decrease of 4.7% in volume and 5.4% in value compared to April, but an increase of 15.2% in volume and 40.7% in value compared to the same period last year.
According to industry insiders, global coffee prices are expected to continue rising in the foreseeable future, creating a plethora of opportunities for coffee exporters, including Vietnamese companies looking to increase their exports.
In addition, it appears that the domestic price of Robusta coffee will recover in tandem with global prices.
Notably, the average export price of Vietnamese coffee in May was $2,248 per tonne, a decrease of 0.8% from the previous month but an increase of 22.1% from May, 2021. This consequently raises the five-month export price by 24 percent, to $2,251 per tonne, compared to the same period last year.
Experts anticipate that coffee prices will continue to rise due to a lack of high-quality, wet-processed Arabica coffee supply sources from Mexico to the New York floor and favourable transportation and delivery conditions from other nations.
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Source: Coffee Talk