Vietnam’s coffee export revenue is expected to hit $4.5-5 billion in 2024 as a result of rising coffee prices, according to the Vietnam Coffee Cocoa Association (Vicofa).

Coffee output is estimated at 1.4 million tons.

Vietnamese enterprises earned over $4 billion from exporting coffee from the 2022-2023 crop between October 2022 and September 2023.

In the first eleven months of this year, Vietnam exported 1.38 million tons worth $3.54 billion, down 12.9 per cent in volume and 2.5 per cent in value year-on-year, figures from the General Department of Vietnam Customs show.

The average coffee price was $2,570 a ton, up 11.9 per cent compared to the same period last year.

Vietnam is currently the world’s second-largest coffee exporter.