Vietnam exported 284,000 tons of coffee in the first two months of the year, worth $1.58 billion, the Government News has reported, citing data from the Ministry of Agriculture and Environment.

The figures represent a year-on-year reduction of 28.4% in volume but an increase of 26.2% in value.

In February alone, local enterprises shipped 150,000 tons of coffee, earning $854.2 million.

The average coffee export price in the two-month period reached $5,574.5 per ton, skyrocketing 76.3% year-on-year. In February, the price hit a new record high of $5,596 per ton.

Germany, Italy and Japan continued to be the three largest importers of Vietnamese coffee, accounting for 16.6%, 9.4%, and 8.2% of the market share, respectively.

Vietnam targets to earn $6 billion from coffee exports this year.