(People’s Daily) According to statistics from the Agricultural Processing and Market Development Bureau of the Ministry of Agriculture and Rural Development of Vietnam, Vietnam’s coffee exports reached 1.51 million tons in 2020, earning US$2.66 billion in foreign exchange, down 8.8%and 7.2%year-on-year respectively. In 2020, the average export price per ton of coffee will reach approximately US$1,759, a year-on-year increase of 1.8%.
Vietnam’s coffee is exported to 80 countries and regions in the world, accounting for 14.2%of the global coffee bean exports. In 2020, Germany, the United States, and Italy will continue to be Vietnam’s top three coffee export markets.
Agricultural Processing and Market Development Bureau pointed out that coffee stocks in global port warehouses have fallen to the lowest level in many years, and coffee export activities are expected to improve in 2021.
Liang Wenwen, chairman of the Vietnam Coffee Cocoa Association, said that the coffee market has shown a downward trend for four consecutive years. Therefore, in 2021, coffee export prices will rise as global production declines. In addition, whether or not coffee export prices can rise depends largely on the recovery level of the tourism industry in the post-epidemic era. This is an industry with a huge amount of coffee consumption, so when the tourism industry resumes, the coffee industry will also resume.
Vietnam’s main coffee export market continues to adopt social distancing measures, and the demand for coffee consumption at home is increasing. In addition, making effective use of the opportunities provided by the Vietnam-EU Free Trade Agreement (EVFTA) will help promote coffee exports.
Lei Guoying, Deputy Minister of Agriculture and Rural Development of Vietnam, stated that after EVFTA takes effect and is implemented, the EU will eliminate tariffs on all non-roasted or roasted coffee products in Vietnam (from 7-11%tariffs to zero); Export tariffs on processed coffee dropped from 9-12%to zero.
The European Union pledged to protect coffee in 39 geographical indications in Vietnam after the EVFTA came into effect. This is because the Vietnamese coffee industry has a huge competitive advantage compared with other countries that export coffee to the EU.
According to the Import and Export Bureau of the Ministry of Industry and Trade of Vietnam, the Vietnamese coffee industry is striving to develop in the direction of modernization, supporting facilities, strong competitiveness, rich and high-quality products, and strive to achieve an export value of 6 billion US dollars by 2030 and improve Vietnamese coffee The goal of added value. (End)