The EU remained the largest coffee export market of Việt Nam, importing more than 367,000 tonnes worth $2 billion, a rise of 10.2 per cent in volume and 81.9 per cent in value.
Agricultural experts forecast that domestic prices may continue to to around VNĐ120,000 per kilogramme due to the downward trend in global markets. Key drivers behind recent price hikes, such as weather concerns and trade tensions, are showing signs of easing.
Algeria’s recent reduction of import duties on coffee offers a great opportunity for Vietnamese coffee to expand its presence in the North African market.
Sustainable production is key for Vietnamese coffee to further exploit the UK – Việt Nam Free Trade Agreement (UKVFTA), to grow the market in a country full of green-aware consumers.
Nestlé ranks first in sustainable development in the field of coffee production, according to the recently published Coffee Barometer coffee industry report.
As a major coffee exporter to the EU, Việt Nam should get prepared for the deforestation law to maintain and expand coffee export to the block, raising the pressing need for digitalization of the value chain.
Viet Nam will step up its processed coffee industry to take full advantage of the benefits from free trade agreements, towards the goal ofaiming for an export target of US$6 billion by 2030.