Coffee exports tipped to hit $5bln in 2024 on rising price
Robusta coffee price reached a record $3,435 per ton in February.
Coffee export price hits three-decade high
Price for 2022-2023 crop stands at $2,682 per ton.
Coffee bean price continues upwards
Price now stands at $2.66 a kilo.
Coffee exports to suffer from falling prices
According to the General Department of Customs, coffee export turnover in the first half of the year reached $2.3 billion, a 48.5 per cent increase year-on-year. However, as inflation has hit many countries around the world and international currencies have been weakened, coffee prices have fallen since the beginning of July, signaling that export turnover in the second half of the year will likely decline.
High coffee prices from social distancing
Social distancing around Vietnam has limited the supply of coffee in the international market, resulting in prices remaining “relatively high” into 2022.