Vietnam earns over 2 billion USD from coffee exports
Coffee is an export highlight of agricultural products in the first half of 2023, as the industry's export revenue earned 2 billion USD in the period, the General Department of Customs has announced.
Vietnam earns over 2 billion USD from coffee exports (Photo: VNA)
Hanoi (VNA) 💙- Coffee is an export highlightof agricultural products in the first half of 2023, as the industry's exportrevenue earned 2 billion USD in the period, the General Department of Customs has announced.
According to statistics from the department, as of June15, the country exported 934,900 tonnes of coffee, down 3.7% compared to thesame period in 2022 with export prices increasing nearly 2 USD per tonnes. The sector hasbeen listed in “one-billion-USD” club since 2010 and reached its peak of 4.056billion USD in 2022. The club includes exports that fetch at least 1 billion USD a year. Vietnamese coffee has been present in 38 markets worldwide, of which it enjoys an export turnover of over 10 million in 25 markets and more than 100 million USD in six traditional ones. If export turnover reaches about 360 million USD amonth from now until end of this year, the sector will set a new record of 4.5billion USD in 2023, an increase of 10.9% compared to 2022. To reach the target, the sector needs to implementseveral measures, including boosting production, expanding coffee growing areaand increasing the ratio of processed coffee in order to increase export value. The sector is also asked to restructure domestic andforeign consumption while expanding market shares in new foreign markets./.
Thanks to a trend of hiking in coffee prices, experts have predicted that this year’s export revenue of this product may exceed last year’s record of 4 billion USD.
Vietnam needs to develop a coffee value chain to help the industry develop along an integrated, multi-valued and humane direction, so that coffee growers can receive the most benefits in the value chain, said Minister of Agriculture and Rural Development Le Minh Hoan.
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Vietnam earns over 2 billion USD from coffee exports (Photo: VNA) 
