Export coffee price at 3-year high

The average export price of Vietnamese coffee reached $2,012 per ton in August, the highest level since November 2018.

In the first eight months of 2021, Vietnam's average coffee export price reached 1,864 USD/ton, up 8.9% compared to the first 8 months of 2020. In which, the average export price of Vietnamese coffee to Vietnam most markets rose, except China.

However, the Import-Export Department (Ministry of Industry and Trade) said that the complicated development of the Covid-19 wave had negatively affected Vietnam's coffee export activities in August 2021.

Statistics from the General Department of Customs show that Vietnam's coffee exports in August 2021 decreased for the 5th consecutive month, reaching 111.7 thousand tons, worth 224.75 million USD, down 8.7 % in volume and 4.4% in value compared to July 2021. But compared to August 2020, an increase of 11.5% in volume and 22% in value.

In the first 8 months of 2021, Vietnam's coffee exports reached 1.08 million tons, worth over 2 billion USD, down 4.4% in volume, but up 2% in value over the same period in 2020. .

Regarding export markets, Vietnam's coffee exports to most major markets increased, except for the United States, Spain, Belgium, and the Philippines.

Generally, in the first 8 months of 2021, coffee exports to many key markets decreased, except for Japan, Russia, and China.

As for the US market, in the first 7 months of 2021, the US reduced coffee imports from Colombia and Vietnam.

Statistics from the International Trade Center show that US coffee imports from Vietnam in the first seven months of 2021 reached 76.47 thousand tons, worth $147.36 million, down 28.4% in terms of value. volume and decreased by 27.2% in value compared to the first 7 months of 2020.

Vietnam's coffee market share in total US imports also decreased from 11.31% in the first 7 months of 2020 to 8.17% in the 7 months of 2021.

The Import and Export Department added that the above price increase was also recorded at the port of Ho Chi Minh City, Robusta coffee for export grade 2, black broken rate of 5%, traded at the price of 2,161 USD/ton, the difference. +24 USD/ton, an increase of 4 USD/ton (equivalent to an increase of 0.2%) compared to September 8, 2021.

Forecasting in the short term, robusta coffee prices fluctuate in an uptrend, but the increase is not large. The supply of coffee from Southeast Asia has not improved, but concerns about the global economic slowdown and very low volume of transactions will restrain the price increase of this commodity.

In the mid-September, 2021, the price of robusta coffee in the domestic market continued to increase according to the world price, the increase slowed down. On September 18, 2021, the domestic price of robusta coffee increased from 200 VND/kg (equivalent to an increase of 0.5%) compared to September 8, 2021, to 39,600 - 40,500 VND/kg.