2024 has been a landmark year for the global coffee industry, as Vietnamese coffee prices have reached unprecedented levels. For the first time, the export price of Robusta, which makes up about 97% of the country’s coffee production, has surpassed the price of Arabica.
Since the start of the year, the price of Vietnam’s coffee exports has seen a steady rise. In January, the price was just above $3,000 per tonne, but by October, it surged to $5,855 per tonne. This represents a staggering increase of over 90% in just 10 months.
Overall, the average export price for the first 11 months of 2024 reached $4,037 per tonne, a 56.9% increase compared to the same period in 2023, according to Vietnam’s Ministry of Agriculture and Rural Development.
Germany, Italy, and Spain remain the largest markets for Vietnamese coffee. However, exports have grown in all of the top 15 markets, with Malaysia and the Philippines experiencing the most significant growth, both more than doubling their imports of Vietnamese coffee.
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