HANOI (XINHUA) – Vietnam exported 1.61 million tonnes of coffee in 2023, earning a record-high revenue of USD4.18 billion, online newspaper Cong Thuong reported yesterday, citing the country’s General Statistics Office.
The 2023 export revenue declined 9.6 per cent in volume but up 3.1 per cent in value year on-year, said the report.
The average price of Vietnamese coffee export in 2023 was USD2,604 per tonne, an increase of 14.1 per cent compared to the previous year.
According to the Vietnam Coffee-Cocoa Association, the country’s coffee production for the 2023-2024 crop will decline to 1.6-1.7 million tonnes, lower than 1.78 million tonnes in 2022-2023.
Local media cited experts’ forecast as saying that Vietnam’s coffee export revenue will hit over USD5 billion in 2024.
With over 710,000 hectares, Vietnam ranks sixth in the world in terms of coffee farming area, but has the second biggest output thanks to high yields.
