Following a sharp increase in both volume and price, coffee has risen to quickly become an export agricultural product with strong growth in the first quarter of the year.
Since the beginning of the year to mid-March, the whole country shipped 452,163 tonnes of coffee, raking in more than US$1 billion in export turnover, according to the latest information provided by the General Department of Customs.
In comparison to the same period last year, its export volume grew by more than 22%, whilst turnover expanded by 54.44%.
This growth in turnover was higher than the output, serving to drive the average export value of coffee products up to US$2,23 per tonne, a rise of 26.45%, equivalent to an increase of nearly US$500 per tonne.
Vietnamese coffee export markets have so far expanded to include many continents, with major buyers such as Germany, Belgium, Italy, Japan, the UK, and the United States.
With this level positive growth, coffee has surpassed the group of fruit and vegetables to rank third in terms of turnover in the agricultural sector after timber and aquatic products. These also make up the three agricultural commodity groups that have reached the “billion dollar” milestone from early this year.