Coffee exports are expected to reach an estimated 2.9 billion USD in the first five months of this year, representing a rise of 43.9% over the same period last year on rising prices despite a drop of 3.9% in volume to 833,000 tonnes, according to the Ministry of Agriculture and Rural Development. Coffee export prices averaged 4,208 USD per tonne in May, 11.7% higher than April and 63.6% higher than May 2023. Prices averaged 3,428 USD per tonne from January through May, up 49.9% over the same period last year. Despite impressive export value growth, Vietnam’s coffee industry is facing a drop in output for export due to prolonged heat and drought.

Source: Vietnam News Agency