Vietnamese Coffee Industry Achieves Unprecedented Growth

The 2024 coffee export season marks a significant turning point for Việt Nam’s coffee industry. Export revenue is projected to exceed $5 billion for the first time. Thanks to a dramatic rise in global coffee prices. Robusta coffee, which makes up 97% of Việt Nam’s coffee production, has reached prices higher than Arabica—a historical milestone.

Rising Coffee Prices Drive Revenue

Export prices for Vietnamese coffee have climbed steadily throughout 2024. Starting at just over $3 per kg in January, prices surged to $5,85 per kg by October. A staggering 90% increase in just 10 months. For the first 11 months of 2024, the average export price stood at $4,03 per kg, reflecting a 56.9% rise compared to the same period in 2023.

Strong Performance Despite Declining Export Volumes

Between January and November, Việt Nam exported nearly 1.2 million tonnes of coffee, earning $4.84 billion in revenue. Although export volumes fell by 15.4%, the overall value rose by 32.8% year-on-year. Germany, Italy, and Spain remain the largest importers of Vietnamese coffee, while shipments to Malaysia and the Philippines more than doubled, highlighting increased demand across diverse markets.

Record-Breaking Achievements in the 2023–2024 Crop Year

The 2023–2024 crop year set a new record for Việt Nam’s coffee industry. Despite a 12% decline in export volume to 1.46 million tonnes, revenue soared to $5.43 billion, surpassing the $5 billion mark for the first time. The ongoing 2024–2025 harvest season is expected to yield 1.6 million tonnes, with domestic consumption forecasted at 270,000 to 300,000 tonnes.

Global Market Conditions and Việt Nam’s Role

The global coffee market’s focus is shifting toward Việt Nam as Brazil. It is the world’s largest coffee producer, delays sales until the next crop. Meanwhile, domestic coffee prices are climbing, with farmers in the Central Highlands holding back stocks due to profitable returns from other crops like durian and pepper. These factors position Việt Nam as a key player in global coffee supply through early 2025.

Việt Nam’s Coffee Export for 2025

With increased supply from the new harvest season and consistently high prices, Việt Nam is on track to achieve a record export revenue of $5.5 billion for the 2024–2025 crop year. The Vietnam Coffee and Cocoa Association (VICOFA) is optimistic that the industry will continue to benefit from strong global demand and competitive pricing.





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