Intimex Group Joint Stock Company, Vinh Hiep Company Limited, and Intimex My Phuoc Joint Stock Company were Vietnam’s top 3 coffee exporters in 2021, with export turnover of 243.518, 195.768, and 160.382 thousand USD, respectively.
Daklak September 2nd Import - Export Company Limited and Neumann Gruppe Vietnam Limited followed in 4th and 5th places, with exports both exceeding 120 thousand USD in turnover.
At the beginning of February 2022, the global coffee price rose significantly compared to the end of January due to the lack of coffee supply when Vietnam entered its national holiday. Meanwhile, Brazilian coffee producers limited their selling because of the Brazilian's real strengthening, rallied high against the USD.
In the meantime, the expectation that Europe and the United States will reopen will support the recovery of global coffee consumption demand.
In 2021, despite the negative impact of COVID-19, Vietnam's coffee export turnover still recorded a double-digit growth thanks to increased export prices.
It is forecast that Vietnam's coffee exports in 2022 will continue to be positive, thanks to abundant supply, FTAs creating competitive advantages for Vietnamese coffee, and export prices most possibly maintaining at a high level.
According to the United States Department of Agriculture (USDA), in the 2021/2022 crop year, Vietnam's coffee production is forecast to reach 31.1 million bags, thanks to favorable weather conditions that have supported yields.
According to statistics from the General Department of Customs, Vietnam's coffee exports in January 2022 reached 163.3 thousand tons, with a turnover of 370.57 million USD, down 3.6% in volume and 2.2% in turnover compared to December 2021 but increased by 1.8% in volume and 32.1% in turnover compared to January 2021.
The average export price of coffee in January 2022 reached 2,268.9 USD per ton, down 3.4% compared to December 2021 but up 22.7% compared to January 2021.
In 2021, the impact of the pandemic caused Vietnam's coffee exports to all major markets to decrease. In particular, exports to a big market, Spain, decreased by 30.6% in volume and 18.9% in turnover compared to 2020.
In the first month of 2022, coffee exports to several markets such as France, Japan, Korea, Portugal, etc., decreased compared to the same period in 2021. However, exports to some key markets increased, such as exports to the German market increased 50.2% in volume and 77.0% in turnover; to the Belgian market increased by 644.8 % in volume and 801.2% in turnover, etc.
Coffee is one of the most widely consumed beverages in the world. According to the International Coffee Organization (ICO), in the crop year 2020/21, about 167.3 million bags (60 kg) of coffee are consumed globally, up from 164.1 million bags in MY 2019/2020.
In 2021, coffee imports of the world's top 5 markets will increase. According to the International Trade Center (ITC) statistics, coffee imports of the US, Germany, and France markets from Vietnam decreased. Imports from Italy slightly increased, and Canada increased by 44.9%. In general, Vietnam's coffee market share in the total import value of the US, Germany, France, and Canada markets remains low.
In 2021, Vietnam's coffee market share in total US imports accounted for 4.02%, Germany 9.37%, France 1.24%, Canada 1.29%, and Japan 14.38%. This data shows that Vietnam has a lot of room to increase exports to these markets in 2022.
According to assessments, in 2022, Vietnam still has a lot of room to increase exports to these markets. Vietnam's coffee export structure has changed, reducing the export of raw green coffee, promoting processing, and exporting roasted and ground coffee. Trade promotion activities continue to be focused, helping to promote and connect Vietnamese coffee products to the world market.
Source: The Ministry of Industry and Trade
Compiled by VietnamCredit
