Record High Coffee Prices Boost Vietnam's Export Value

In a remarkable turn of events, Vietnam's coffee exports have soared to $1.7 billion in just two months, thanks to a significant increase in global coffee prices. Nguyen Duc Dung, Deputy General Director of the Mercantile Exchange of Vietnam, highlighted a 37% surge in export value, despite a 22% drop in volume.

Domestic Market Hits New Highs

On the domestic front, coffee prices in the Central Highlands and southern provinces have reached unprecedented levels. As of March 14, prices peaked at approximately VND139,000 ($5.44) per kilo, marking a 50% increase from the previous year. Experts predict a continued upward trend into the second quarter, fueled by a looming supply shortage.

Pepper Exports Follow Suit

Meanwhile, Vietnam's pepper exports have mirrored this trend, with a notable 50% increase in value year-on-year, despite a decrease in volume. The country has successfully exported 27,274 tonnes of pepper, amassing $184.4 million in revenue over the same period.