Vietnam posts over 100% growth in coffee exports to Spain
Vietnam's coffee export value to Spain have increased by more than 100%, according to the Agency of Foreign Trade under the Ministry of Industry and Trade.
Hanoi (VNA) 🎃- Vietnam's coffee export value to Spain have increased by more than 100%, according to the Agency of Foreign Trade under the Ministry of Industry and Trade.
The agency cited data from the General Department of Customs as saying that Vietnam exported 10,740 tonnes of coffee to Spain in April, earning 42.66 million USD, year-on-year rises of 18.7% in volume and 102.8% in value.
Shipments from Vietnam to Spain in the first four months of this year reached approximately 55,380 tonnes, worth 193.1 million USD, representing increases of 53.7% in volume and 136.6% in value compared to the same period last year.
The average export price of Vietnamese coffee to the Spanish market was 3,487 USD per tonne in the first four months, up 53.9% over the same period last year, the agency said, adding that it stood at 3,971 USD per tonne in April, up 9.1% month-on-month and 70.8% year-on-year.
The price of robusta coffee on the domestic markets increased again in the middle of this month after falling below 100,000 VND (4 USD) per kilogramme. However, favourable weather conditions in the Central Highlands and exchange rate fluctuations have restrained the strong recovery of coffee prices.
On May 29, coffee prices continued to rise and ranged between 115,700 - 117,200 VND (4.39 - 4.55 USD) per kilogramme./.
The Ministry of Agriculture and Rural Development said that Vietnam’s coffee output in the 2023–2024 crop year is estimated to decrease by 20% compared to the previous crop year, to 1.47 million tonnes, the lowest in four years, putting pressure on Robusta supply in the world market.
With 652,000 tonnes of coffee exported to the EU worth 1.66 billion USD in 2023, Vietnam was the second biggest coffee supplier of the EU in terms of volume and third largest supplier in terms of value.
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