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Vietnam becomes world’s second largest coffee exporter

vietnam-becomes-worlds-second-largest-coffee-exporter

Vietnam becomes world’s second largest coffee exporter

Hanoi, Jan 4 (Prensa Latina) Vietnam was confirmed in 2021 as the world´s second largest coffee exporter by covering 8.3% of global demand.
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In 2021, Vietnam shipped more than $3 billion to some 80 countries and territories, said Nguyen Nam Hai, permanent vice president of the Vietnam Coffee and Cocoa Association (VICOFA).

Major recipient markets were the European Union (38%of the total), members of the Association of Southeast Asian Nations (ASEAN), the United States, Russia, Japan and UK, he said.

Mr. Nam Hai stated revenues were not higher because most of Vietnam’s sales are raw grains, whose price per ton is much lower than that of processed products ($2,400 compared to $3,600).

VICOFA expects that foreign sales by 2030 to double the current ones through greater coffee processing and relative plantation growth.

A project already underway will require in its first stage (through 2023) a $7.5M-investment to be used to build large-scale, high-quality cultivation areas, with up-to-date drying, storage and processing systems.

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