ANN/VIET NAM NEWS – Vietnam, the second-largest supplier of coffee to the United Kingdom (UK), where the first half of this year’s average export price of Vietnamese coffee reached USD3,941 per tonne, an increase of 68.4 per cent compared to the same period last year.
According to data from the General Department of Customs, Vietnam’s coffee exports to the UK in June 2024 totalled 2.18 thousand tonnes, valued at USD9.1 million, down 44.6 per cent in volume and 17.5 per cent in value compared to June 2023.
The significant drop in coffee volume has led to a sharp increase in prices.
The UK imports coffee from 94 countries and territories worldwide. The primary coffee suppliers to the UK market include Brazil, Vietnam, Germany, Italy, and Colombia.
According to statistics from the International Trade Centre (ITC), in the first five months of 2024, the UK imported 94.21 thousand tonnes of coffee from the world, worth USD553 million, an increase of 8.1 per cent in volume and 2.6 per cent in value compared to the same period last year.
The average import price of coffee into the UK from the world reached USD5,870 per tonne, down 5.2 per cent compared to the same period last year.
Notably, the average import price of coffee from Brazil, Germany, and Colombia decreased; however, the average import price from Vietnam surged by 45.4 per cent to USD3,378 per tonne.
Brazil is the largest coffee supplier to the UK in the first five months of 2024, with a volume of approximately 37.47 thousand tonnes, valued at USD128.81 million, an increase of 93.8 per cent in volume and 45.1 per cent in value.
Vietnam followed as the second-largest coffee supplier to the UK in the first five months of 2024, with a volume of 15.33 thousand tonnes, valued at USD51.79 million, a decrease of 22.8 per cent in volume but an increase of 12.2 per cent in value compared to the same period last year.
Vietnam’s share of total UK coffee imports from the world decreased from 22.8 per cent in the first five months of 2023 to 16.27 per cent in the first five months of this year.
The UK increased its coffee imports from Germany and Italy but reduced imports from Colombia this year.
