Global Agriculture

Vietnam is the largest coffee supplier to Spain

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20 March 2023, Vietnam: Vietnam is the largest supplier of coffee for Spain, reaching 113,550 tons, worth approximately 269 million euros (equivalent to 287 million USD), up 21.6% in volume and 78.9% in value compared to 2021.

According to the Import-Export Department (Ministry of Industry and Trade), citing data from the European Statistics Agency, in 2022 Spain imported 376,450 tons of coffee, worth 1.37 billion euros (equivalent to 1.46 billion USD), a year-on-year increase of 11% in volume and 47.5% in value.

The average import price of Spanish coffee is up to 3,650 USD/ton, up 32.9% compared to 2021 and the highest level in the period 2018-2022; In which, the average import price of Spain’s coffee from most sources increased, except for the Netherlands.

In 2022, the supply of coffee to Spain in 2022 is mainly from markets beyond the EU, the volume reached 275,770 tons, worth 911.82 million euros (equivalent to 973.18 million USD), an increase of 11.5% in volume and 77.8% in value compared to 2021.

Vietnam’s coffee market share in Spain’s total imports from the world market increased to 30.16%.

In contrast, Spain decreased 23.2% of coffee imports from Indonesia in volume but increased by 12.5% in value compared to 2021, reaching 20,500 tons, worth 46.95 million euros (equivalent to 50.11 million USD).

According to the Import-Export Department, Spain is the 8th largest trading partner of Vietnam in the EU, the 7th largest export partner and the 8th largest import partner of Vietnam.

In 2022, two-way trade turnover between Vietnam and Spain reached 3.54 billion USD, up 13% compared to 2021 (the highest growth rate ever). Vietnam’s export turnover to Spain reached 2.96 billion USD, up 16.34% and Vietnam’s import turnover from Spain reached 572.69 million USD, down 1.59 % compared to last year.

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(For Latest Agriculture News & Updates, follow Krishak Jagat on Google News)

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