Hanoi (VNS/VNA) - Coffee export turnover to most traditional markets has increased sharply since the beginning of the year.
It is estimated that Vietnam exported 964,000 tonnes of coffee in the first seven months of 2024, worth nearly 3.54 billion USD, down 13.8% in volume but up 30.9% in value compared to the same period last year.
Turnover to many traditional markets in the second quarter of this year rose year-on-year, except for Italy.
The export turnover of most coffee varieties declined in the second quarter of this year compared to the first quarter, except for Arabica coffee.
Compared to the second quarter of last year, the export turnover of coffee varieties grew.
In general, the export turnover of coffee varieties surged from two to three digits compared to the same period last year.
The Agency of Foreign Trade under the Ministry of Industry and Trade and the Vietnam Industry and Trade Information Centre forecast that Vietnam’s coffee exports in the remaining months of the third quarter would decrease due to low supply.
Supply will not increase until October, when the 2024-25 coffee harvest begins.
Statistics from the Ministry of Agriculture and Rural Development show that the country's coffee output is estimated at 1.47 million tonnes in the 2023-24 crop year, the lowest level in four years, down 20% compared to the 2022-23 crop year.
Coffee output in the 2024-25 crop year is forecasted to continue to decrease due to unfavourable weather factors.
Without including the inventory carried over from the previous year, Vietnam will only have about 200,000 tonnes left to export from now until September.
However, the Vietnamese coffee industry will benefit in terms of price.
The Bloomberg reported that global Robusta coffee prices would fluctuate in a strong and prolonged upward trend due to concerns about scarce supply from Vietnam.
According to the Internationa꧙l Coffee Organisation (ICO), the world🐓 may face a shortage of Robusta coffee of up to 35 million bags (60kg/bag) by 2040./.
Vietnam is the second-largest supplier of coffee to the United Kingdom (UK). The average export price of Vietnamese coffee to the UK in the first half of 2024 reached 3,941 USD per tonne, an increase of 68.4% compared to the same period last year.
Three Vietnamese enterprises have participated in the 2024 World of Coffee 2024 festival, which was organised by the Specialty Coffee Association (SCA) in Copenhagen, Denmark, from June 27-29.
The export value of Vietnamese coffee to Canada reached over 4.4 million USD in the first quarter of 2024, up 12.2% compared to the same period last year.
In mid-June, the Vietnam Trade Promotion Agency (VIETRADE) at the Ministry of Industry and Trade (MoIT) in collaboration with Alibaba.com announced a list of 200 outstanding businesses selected to participate in the "Vietnam National Pavilion" in 2025.
Vietnamese seafood processing and export enterprises are in the process of completing procedures and adopting necessary technologies to bring their products into the Halal market.
The PM outlined a dual strategy: revitalising traditional growth engines of investment, exports, and consumption, while accelerating breakthroughs in sci-tech, innovation, digital transformation, and green transition.
The complex, covering a total area of 512 ha, is designed after a multi-functional model, prioritising the preservation of natural landscapes, honouring local beauty, and creating an ideal living area.
He requested delegates to provide objective and honest feedback on what has been achieved, what has not, the consequences, and draw lessons learned for the future. He also emphasised the need to identify key directions and tasks, with a firm resolve to prevent, and eventually eliminate the trafficking of counterfeit medicines and fake food products.
The Ministry of Finance is drafting policies to establish specialised AI and smart industrial parks to raise the technological profile of FDI projects and create spillover effects for local businesses.
Vietnam ranked as the 8th largest export market of Singapore with an export turnover of more than 11.7 billion SGD (9.06 billion USD) in the first five months of this year, four places higher than that of the same period last year.
Vietnamese Ambassador to the US Nguyen Quoc Dung reviewed key milestones in the bilateral relationship, underscoring the essential and sustained contribution by businesses from both countries, from the time before the normalisation of bilateral ties in 1995 until today, when the two sides are comprehensive stategic partners of each other.
According to targets adopted at the fifth Party Congress of the Management Board of the Ho Chi Minh City Export Processing and Industrial Zones Authority (HEPZA) on June 22, the zones aim for average capital attraction of 8–10 million USD per hectare, with a 70% disbursement rate of registered capital achieved on schedule.
This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
