Vietnamese coffee exports hit $6bn milestone

The full-year forecast expects this figure to exceed $7 billion.

Impressive figures from the agriculture sector paint a promising picture for Vietnam's farm produce export.

On Monday, the Ministry of Agriculture and Environment announced that the export value of agricultural, forestry, and fishery products in July was estimated at $6 billion, up 13 percent compared to the same period last year.

Between January and July, the total export value of these products reached $39.68 billion, representing a nearly-15-percent increase year on year and generating a trade surplus of $11.52 billion.

Coffee takes off on strong price growth

Among export commodities showing robust growth, coffee takes the lead with an outstanding performance.

In the January-July period, Vietnam exported 1.1 million metric tons of coffee, up 7.6 percent year on year, earning $6 billion in value, an increase of 65 percent compared to the same period last year.

This marks the first time Vietnamese coffee exports have reached $6 billion, surpassing the total export revenue of 2024 at approximately $5.6 billion.

The sparkling figure was driven by an average export price that rose 55 percent year on year to an estimated $5,672 per metric ton.

Given the current upward price trend, coffee export revenue is expected to exceed $7 billion this year.

Cashew exports brought in $2.79 billion, up over 17 percent, despite a 3.3-percent drop in volume, with the average export price estimated at $6,800 per metric ton, a 21-percent jump.

Diverse markets, durian recovery

By market structure, Asia remained Vietnam’s largest export destination for agricultural, forestry, and fishery products, accounting for nearly 43 percent of the market.

The Americas and Europe followed with 23 percent and 15 percent, respectively.

Among specific markets, the United States took the lead with a 21-percent share, followed by China at 18.4 percent and Japan at 7.2 percent.

Notably, all three top markets increased their imports compared to the same period last year, with Japan showing the strongest growth of 23.6 percent, the U.S. up 12.1 percent, and China up 3.6 percent.

Wood and wooden products and fishery products also performed well, reaching $9.67 billion, up 8.3 percent, and $6.06 billion, up nearly 14 percent, respectively.

Particularly, fruit and vegetable exports have regained momentum over the past two months, with export values in June and July reaching $750 million and $810 million, respectively.

As a result, the export value for this category hit $3.92 billion, slightly higher than the same period in 2024.

However, rice exports have yet to recover as the average export price dropped 18 percent to $514 per metric ton.

Consequently, although export volume increased over three percent to 5.5 million metric tons, export revenue fell 16 percent to $2.81 billion.