The Agency of Foreign Trade under the Ministry of Industry and Trade cited statistics from the General Department of Vietnam Customs as saying that Vietnam’s coffee exports to most traditional markets have decreased, of which Vietnam’s coffee market share in the US, Vietnam’s fourth largest import market for this commodity, decreased to 6.96% in 11 months of 2024 from 10.71% in the same period of 2023.

In the 11 months of 2024, the US imported 94,400 tonnes of coffee from Vietnam, worth 349.9 million USD, a decline by 32.1% in volume and 1.2% in value compared to the same period in 2023. In addition to Vietnam, the US is importing coffee from 103 countries and territories around the world; of those, Brazil is the largest coffee supplier, followed by Vietnam, Colombia, Honduras, Guatemala...

Vietnam’s market share in total US coffee imports decreases

Brazil is the largest coffee supplier for the United States in 11 months of 2024, with imports reaching 404.8 thousand tonnes, worth 1.76 billion USD, up 28.4% in volume and 34.9% in value compared to the same period in 2023. Brazil’s coffee market share in the total US imports increased from 24.29% in 11 months of 2023 to 29.85% in 11 months of 2024.

The United States also imported 240.8 thousand tonnes of coffee from Colombia, the second largest supplier, valued at 1.32 billion USD, up 4.7% in volume and 2.9% in value compared to the same period in 2023. Colombia’s coffee market share in total US imports increased from 17.72% in 11 months of 2023 to 17.76% in 11 months of 2024.

In 2024, Vietnam’s coffee exports reached about 1.34 million tonnes, worth 5.6 billion USD, a 17.1% decline in volume. However, the export value still increased by 32.5% due to rising coffee prices around the world.

Among Vietnam’s 10 largest coffee export markets in 2024, the exports to Germany, Italy, Japan, the US, and Russia decreased while exports to Spain, the Philippines, China, the Netherlands, and Indonesia increased.

As for the United States, according to statistics from the International Trade Center (ITC), in the 11 months of 2024, this market imported nearly 1.36 million tonnes of coffee from the world, worth 8.17 billion USD, up 4.5% in volume and 6.3% in value compared to the same period in 2023.

In the 11 months of 2024, the average coffee import price into the United States reached 6,025 USD/tonne, up 1.7% over the same period in 2023, of which the average import price from Brazil increased by 5.1% year on year, to 4,346 USD/tonne; from Vietnam increased sharply by 45.5% to 3,706 USD/tonne. In contrast, the average import prices from Colombia and Guatemala decreased.

In mid-January, the coffee harvest in the Central Highlands provinces completed in more than 70% of the coffee growing areas, much later compared to many previous years. Regarding output, recent forecasts show that Vietnam’s coffee output only dropped by about 5% compared to the same period last year, more optimistic than previous forecasts of 10-15% decrease.