Vietnam raked in more than US$3 billion from exporting 862,400 tonnes of coffee between the beginning of the year and mid-June, with Germany emerging as the largest importer, according to data from the General Department of Vietnam Customs.
This figure represents a fall of 8% in volume, but a rise of 38% in value compared to the same period last year.
Specifically, Germany, the host country of the Euro 2024, was the largest consumer of Vietnamese coffee, as it spent nearly US$350 million importing more than 104,000 tonnes, followed by markets such as Italy, Japan, Spain, and Russia.
A representative of a local export firm attributed the rise in consumption to the fact that Germans drink more coffee than beer. Statistics show a German drinks more than 169 litres of coffee a year compared to 90 litres of beer annually.
Vietnam is the second largest supplier of coffee to Germany after Brazil, as its coffee makes up 19% of Germany’s total coffee imports. In fact, Germany's coffee import turnover from the Vietnamese market has always remained stable, accounting for a market share of between 18% and 25% of the country’s total coffee imports.
Statistics indicate that Vietnam reduced coffee exports to Germany, Italy, the United States, and Russia in the first five months of the year; but increased exports to markets such as Spain, Japan, Indonesia, the Philippines, the Netherlands, and China.
Most notably, China imported more than 22,100 tonnes of Vietnamese coffee, worth US$84 million in the reviewed period, representing a sharp increase of more than 53% year on year.
The average export price of Vietnamese coffee surged by 41% to reach US$3,475 per tonne against the same period last year.
Germany is largest importer of Vietnamese coffee
Vietnam raked in more than US$3 billion from exporting 862,400 tonnes of coffee between the beginning of the year and mid-June, with Germany emerging as the largest importer, according to data from the General Department of Vietnam Customs.
Source: VOV
