Coffee export price reaches highest level in nearly 4 years
The average export price of coffee in September reached the highest level since December 2017 following a continuous uptrend in recent years.
According to the General Department of Customs, the average export price of Vietnam's coffee reached USD2,093 per ton in September 2021, up 4% compared to August 2021 and 11% over September 2020. This is the highest figure since December 2017.
In the first nine months of 2021, Vietnam's average coffee export price reached USD1,884/ton, up 9.2% over the same period in 2020.
In September, Vietnam's coffee exports dropped by 10.2% in volume and 6.6% in value compared to August 2021 but still grossed an increase by 0.6% in volume and 11 .7% in value compared with September 2020, reaching 100,340 tons worth USD210 million.
Coffee exports decreased by 5.4% in volume in the first nine months of 2021 but raised by 3.4% in value over the same period in 2020, reaching 1.18 million tons, worth USD2.23 billion.
The Import-Export Department (Ministry of Industry and Trade) forecasts that Vietnam's coffee exports will surge in the coming months due to an increase in global consumption demand when the country enters the coffee harvest season 2021-2022.
In addition, the social distancing is gradually being eased creating convenience for facilitating the harvest and transportation of coffee.
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