Global Trade Insights·Jan 4, 2024·ysabelle

Vietnam Coffee Exports 2023: Most Promising Market?

Vietnam's coffee exports in 2023 reached $4.24 billion, growing 4.6% compared to the previous year. The EU remains the largest export market, but...

Overview of Coffee Exports in 2023

Vietnam’s coffee exports in 2023 reached $4.24 billion, growing 4.6% compared to the previous year. The EU remains the largest export market, but many emerging markets have shown impressive growth. Let’s explore the most promising coffee markets for Vietnam in 2023 with TradeInt Vietnam!

Coffee Production

According to the Ministry of Agriculture and Rural Development, in 2023, the total coffee harvest area in Vietnam was 653,000 hectares, yielding 1.845 million tons. However, this year’s coffee production saw a decline as many coffee areas were converted to durian and other fruit crops.

Export Results

Coffee exports reached 1.62 million tons, valued at $4.24 billion, down 8.7% in volume but up 4.6% in value compared to 2022. The average export price was $2,614 per ton, a 14.5% increase from 2022. Vietnam continues to hold the second position in the world for coffee exports, after Brazil.

Types of Coffee Exported

Robusta coffee continued to dominate the export structure with 78.5%, reaching $3.2 billion, a 2.8% increase from 2022. In contrast, both the volume and value of Arabica coffee exports decreased by 32.8% and 9.3%, respectively.

Export Markets

The EU market accounted for the largest share with 35% of total coffee exports, reaching $1.48 billion, a 0.7% decrease from 2022. Many markets saw significant growth compared to 2022, such as Denmark, the Netherlands, and Portugal. Other markets remained stable, including Japan, China, the US, and Russia. Coffee exports also saw strong growth in emerging markets like Indonesia, Algeria, Myanmar, and New Zealand.

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EU Market - Still the Top Destination

The EU remained Vietnam’s largest coffee export market, accounting for 35% of total exports, reaching $1.48 billion, a slight decrease of 0.7% from 2022. However, several EU markets experienced substantial growth:

Denmark: $4.1 million, up 96.7%.
Netherlands: $121.7 million, up 76.5%.
Portugal: $35.6 million, up 51.3%.

Other major markets like Germany, Italy, France, and Spain maintained stable export volumes compared to the previous year. This stability reflects the consistent demand for coffee in the EU, particularly for Vietnam’s primary export, Robusta coffee.

Emerging Markets - A Breakthrough Opportunity

Besides the traditional EU market, 2023 marked the rise of many promising emerging markets:

Indonesia: $132.7 million, a remarkable growth of 122.4%.
Algeria: $160.2 million, an impressive growth of 88.4%.
Myanmar: $19.3 million, an 89.1% increase.
New Zealand: $4.8 million, up 60%.

This robust growth indicates expanding coffee demand beyond traditional markets. This presents a significant opportunity for Vietnamese coffee businesses to expand their markets and diversify their export partners.

Japan, China & USA - Potential Still Exists

Other major markets like Japan, China, and the USA continued to maintain stable coffee import levels from Vietnam. Although there was no significant growth, these remain potential markets with large and stable demand.

Conclusion

In 2023, Vietnam’s coffee exports demonstrated flexibility and high adaptability. Besides maintaining market share in traditional markets like the EU, Vietnamese coffee businesses quickly seized opportunities to expand into emerging markets. With increasingly improved coffee quality and market diversification, Vietnam’s coffee industry promises continued success in the coming years.

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