Vietnam is seeing a surge in the price of its coffee exported to the US and is expected to gain more opportunities in this market.
According to the Ministry of Industry and Trade’s Import-Export Department, in the first five months of 2022, Vietnam shipped 50,580 tonnes of coffee to the US for 124.95 million USD, down 2.9% in volume, but up 23.6% in value year-on-year.
In the period, Vietnam earned 2,470 USD per tonne, up 27.2% compared to that in the same period last year.
Experts forecast that in the 2020 - 2025 period, the US coffee market will grow at an average rate of 4.8%. The main factors driving the growth of the market are increasingly hectic lifestyle and long working hours, which make coffee chains in the country more popular among consumers.
The opportunity is big, the Import-Export Department stressed, however, advising exporters to pay attention to the US’s production standards, including Fairtrade USDA, Organic, Rainforest Alliance/UTZ Certified, Bird Friendly, Carbon Neutral, Organic và Direct Trade./.
