Vietnam: Coffee and cashew nuts reach new export milestones

The Vietnamese coffee industry has reached a historic milestone by exporting over 5.2 billion USD worth of coffee in 2024, with the average price of coffee exports reaching a record high of 5,720 USD/ton in October. This significant increase in revenue is attributed to a decrease in coffee export volume but a rise in prices, alongside the robust performance of cashew nut exports which surpassed 4.2 billion USD due to a substantial increase in both export volume and prices. The average export price of cashew nuts from Vietnam in the first 10 months of 2024 was 5,873 USD/ton, marking a notable growth in the industry. The success of these agricultural exports signifies a promising year for Vietnam in the international market, with notable growth in traditional and emerging markets.

Coffee surpasses 5 billion USD mark 5.2 billion USD is the coffee export turnover as of December 15 (according to information from the General Department of Customs). With this figure, this is the first time in the history of the Vietnamese coffee industry that coffee export turnover has exceeded 5 billion USD in a year. Previously, coffee exports in the 2023-2024 crop year (from October 2023 to September 2024) also exceeded 5 billion USD for the first time in a crop year. Thus, 2024 is a great export success year for the Vietnamese coffee industry when it surpassed 5 billion USD in both the crop year and the calendar year. And coffee became the third agricultural product after vegetables and rice, with an export turnover exceeding 5 billion USD. The high export price of coffee is the main reason for Vietnamese coffee to reach this important export milestone. Because in 2024, due to the decrease in output, the amount of coffee exported has decreased significantly. In the first 11 ...