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Vietnam’s top 10 coffee exporters (9 months 2022)

Vietnam’s top 10 coffee exporters (9 months 2022)

Tuesday 08, 11 2022
Vinh Hiep Company Limited, Intimex Group Joint Stock Company, and Daklak September 2nd Import - Export Company Limited remained the top 3 coffee exporters in Vietnam in the first 9 months of 2022.

Vietnam’s coffee exports updates (9 months 2022)

The General Department of Customs data showed that Vietnam’s coffee exports in September 2022 reached 92.55 thousand tons, equivalent to a turnover of 226.1 million USD. The exports were down 17.8% in volume and 15.1% in turnover over August 2022. Compared to September 2021, exports were down 10.3% in volume and up 4.9% in turnover.

In the first 9 months of 2022, Vietnam’s coffee exports reached 1.35 million tons, with a turnover of 3.06 billion USD, up 13.1% in volume and 37.04% in turnover over the same period in 2021.

In the first 9 months of 2022, Vietnam's coffee exports to the EU's primary market increased over the same period in 2021, up 22.4% in volume and 48.1% in turnover, reaching 523.9 thousand tons, equivalent to a turnover of 1.14 billion USD. Exports to the US market decreased by 7.6% in volume but increased by 13.1% in turnover, reaching 85.1 thousand tons with a turnover of 214.2 million USD.

Vietnamcredit coffee exports

According to the Institute of Policy and Strategy for Agriculture and Rural Development, Vietnam's coffee exports to several markets in the EU, such as Belgium, Spain, the Netherlands, France, and Portugal, have increased sharply compared with the same period in 2021.

Despite inflation reaching a 20-year high, coffee exports to the EU still grew well. That is because coffee is an essential commodity, an indispensable drink in European countries. On the other hand, the tariff advantage from the EU-Vietnam Free Trade Agreement (EVFTA) also brings great motivation for coffee exporters to this market.

The global crisis has not severely affected coffee consumption in the EU. The Covid-19 pandemic has only had a negative impact on the EU coffee market in the short term. In the long term, the EU's coffee import volume is still high, so the Vietnamese coffee industry has many opportunities to infiltrate this huge market filled with potential.

Besides the EU, the amount of coffee exported to other markets also achieved impressive growth, such as Russia increased by 17.3%, the UK by 57.9%, and India by 116% over the same period.

Notably, Vietnam's coffee market share in total UK imports increased sharply from 16.33% in the first 6 months of 2021 to 29.92% in the first 6 months of 2022. The UK is the 5th largest coffee-consuming market in Europe, after Germany, Italy, France, and Spain.

In the first 8 months of 2022, Vietnam's coffee exports to the UK market reached 34.68 thousand tons, worth 70.68 million USD, up 57.9% in volume and 84.2% in value compared to 2021. Vietnam's coffee enterprises expect that the UKVFTA will be a lever to increase coffee export turnover to the UK market in the coming time.

Exports will increase

Vietnam’s coffee companies are advised to focus on exporting to the US market, as the market size of this country has been growing in recent years and is expected to grow well, averaging 6.74% during 2020-2027.

Vietnamcredit Vietnam coffee companies

There is also potential when exporting coffee to the Chinese market, as the coffee consumption demand in this country is growing at an average rate of 15%/year.

In the last months of 2022, Vietnam’s coffee exports can encounter difficulties coming from China’s “Zero Covid” policy and rising inflation caused by the geo-political conflict in Eastern Europe.

In addition, coffee output in 2022 is lower than in 2021 due to low productivity. Coffee production in the coffee year 2021/2022 reached 1.5 million tons, lower than 1.62 million tons in the coffee year 2020/2021.

In the third quarter of 2022, Vietnam still has about 500,000 tons of coffee to export. The new coffee harvest starting in October will increase the supply of coffee for export. If the export price of coffee stays as high as it is now, Vietnam's coffee industry will set a record turnover of 4 billion USD in 2022.

 

 

Top 10 coffee exporters in Vietnam

(First 9 months 2022)

Vinh Hiep Company LimitedIntimex Group Joint Stock Company, and Daklak September 2nd Import - Export Company Limited remained the top 3 coffee exporters in Vietnam in the first 9 months of 2022, with export turnovers of 186,456 thousand USD, 175,801 thousand USD, and 170,485 thousand USD, respectively.

In fourth and fifth places were Intimex My Phuoc Joint Stock Company and Louis Dreyfus Company Viet Nam Trading and Processing Co. Ltd, with export turnovers of 151,581 thousand USD and 114,528 thousand USD, respectively.

Vietnamcredit Top 10 coffee exporters in Vietnam

 

 

Source: The Ministry of Industry and Trade

Compiled by VietnamCredit

 

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