Vietnam exported 65,000 tonnes of coffee in September worth US$205 million, representing a sharp fall of 32.7% in volume and 12.8% in value compared to the same period from last year, according to figures given by the Ministry of Industry and Trade.
During the initial nine months of the year, the country shipped 1,266 million tonnes of coffee abroad worth US$3.16 billion, down 7.3% in volume, but up 1.9% in value on-year.
The average export price of Vietnamese coffee in September surged by 3.2% compared to the previous month to reach US$3,151 per tonne and was up 29.6% against September last year. Meanwhile, the average coffee export price was estimated at US$2,499 per tonne, up 9.9% on-year.
Most notably, Robusta and Arabica coffee exports decreased against the same period from last year, while Excelsa and processed coffee exports experienced an upward trajectory.
With regard to the further sustainable development of the coffee industry, Minister of Agriculture and Rural Development Le Minh Hoan revealed that the Ministry of Agriculture and Rural Development has submitted an action plan to the Prime Minister as part of efforts to meet the new regulations the EU Deforestation Regulation (EUDR).
Accordingly, the Ministry is keen to partner with the Sustainable Trade Initiative (IDH) and JDE Peet's Group in order to map out a roadmap that is in compliance with the EU’s new regulations.
Laurent Alexandre Sagarra, vice president in charge of Sustainability Programs of JDE Group Peet, expressed his hope that Vietnam can become a pioneering country in building a coffee industry that fully meets EUDR regulations in the future.
He underscored the need to standardise processes, public-private co-operation mechanisms, and business models, improve production capacity for farmers and cooperatives, strengthen chain linkage and origin traceability, as well as promoting digital transformation and applying science and technology in production as a means of meeting new market requirements.
VOV
