05 May 2022, VN: Coffee export in the first quarter of this year was notable in both quantity and value, reaching the highest level of export in a single quarter ever.
According to the General Department of Customs, Vietnam’s coffee export in the first quarter of 2022 reached 581.7 thousand tons, worth $1.3 billion, up 28.3% in volume and 60.2% in value compared to the first quarter of 2021. This is the record high that coffee export has ever reached in a quarter.
In the first quarter, coffee exports to all regions of the world increased sharply compared to the same period in 2021. Of which, coffee exports to the European region increased the most, up 92.6%. The proportion of coffee export to Europe accounted for 54.39% of total export value in the first quarter of 2022, much higher than the proportion of 40.71% in the first quarter of 2021.
In contrast, the share of coffee exports to Asia decreased from 45.62% in the first quarter of 2021 to 32.7% in the first quarter of 2022.
The Agency of Foreign Trade (Ministry of Industry and Trade) forecasted that in the second quarter of this year, Vietnam’s coffee exports will continue to increase thanks to abundant supply and Free Trade Agreements, creating a competitive advantage for Vietnamese coffee.
However, after a sharp increase in coffee prices in the first months of 2022, in March and April, coffee prices decreased due to the pressure of abundant supply and reduced demand in the short term due to high inflation.