Vietnam is seeing a surge in the price of its coffee exported to the US (Photo: VNA)
Hanoi (VNA) – Vietnam is seeing a surge in the price of its coffeeexported to the US and is expected to gain more opportunities in this market.
According to the Ministry of Industry and Trade’s Import-ExportDepartment, in the first five months of 2022, Vietnam shipped 50,580 tonnes ofcoffee to the US for 124.95 million USD, down 2.9% in volume, but up 23.6% invalue year-on-year.
In the period, Vietnam earned 2,470 USD per tonne, up 27.2%compared to that in the same period last year.
Experts forecast that in the 2020 - 2025 period, the UScoffee market will grow at an average rate of 4.8%. The main factors drivingthe growth of the market are increasingly hectic lifestyle and long workinghours, which make coffee chains in the country more popular among consumers.
The opportunity is big, the Import-Export Department stressed, however,advising exporters to pay attention to the US’s production standards, includingFairtrade USDA, Organic, Rainforest Alliance/UTZ Certified, Bird Friendly,Carbon Neutral, Organic và Direct Trade./.
Vietnam aims to replant or transplant about 107,000ha of coffee by 2025, according to the Ministry of Agriculture and Rural Development. The productivity is expected to rise to 3.5 tonnes of coffee bean per ha, with an income 1.5-2 times higher than before.
Canadian magazine The Travel has listed Vietnam among 10 countries with a unique coffee culture in which iced coffee with condensed milk and egg coffee are the best options.
Vietnam is believed to have much room for exporting coffee to Japan, whose hot coffee market is forecast to grow 4.2 percent during 2020 - 2025, according to Cong Thuong (Industry & Trade) newspaper.
Vietnam shipped 889,000 tonnes of coffee overseas for more than 2 billion USD in the first five months of 2022, up 24.2 and 54 percent year on year, respectively.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
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Vietnam is seeing a surge in the price of its coffee exported to the US (Photo: VNA) 
