From 8.95% in the first four months of 2021 to 9.6% in the first four months of 2022, Vietnam’s proportion of the US market’s total coffee imports has increased. As a result, Vietnam’s coffee exports to the US saw a 69% revenue increase over the same period last year.
The price of coffee exports rose dramatically as the US boosted its purchases of Vietnamese coffee
The General Department of Customs estimates that Vietnam exported 889 thousand tons of coffee valued at over 2 billion USD in the first five months of 2022, an increase of 24.2% in volume and 54% in value over the same time in 2021.
The US is currently Vietnam’s fifth-largest market for coffee exports, in particular. Despite a volume decline in May and the first five months of 2022 compared to the same time in 2021, coffee exports to the US saw a gain in value. The cost of exporting coffee to this market was expensive, which was the cause.
For example, in May 2022, firms in our nation exported 9,340 tons of coffee to the US for a value of US$22 million, down 16.5% in volume but up 2.3% in value from the same month in the prior year, May 2021.
Vietnam’s coffee exports to the United States generally reached 50,580 tons, valued at $124.95 million in the first five months of 2022, down 2.9% in volume but up 23.6% in value over the same time in 2021.
The average cost of Vietnamese coffee imported into the US climbed by 42.3% to $3,451 per ton. Vietnamese coffee can still be purchased for a significant discount over the average import cost of US coffee from other countries, which is US$5,353/ton.
Regarding varieties, Vietnam exported 32,570 tons of Robusta coffee to the US in the first four months of 2022, for a value of US$64,19 million, an increase of 36% in value and 7.1% in volume over the same time in 2021.
Vietnamese Robusta coffee’s average export price to the US increased by 27% to $1,970 per ton during the same time in 2021.
Arabica coffee exports to the US reached 5,280 tons worth of US$23.25 million in the first four months of 2022, up 12.1% in value but down 30.3% in volume over the same time in 2021.
Vietnamese Arabica coffee’s average export price to the US at $4,402/ton, up 27% from the same time in 2021.
In the first four months of 2022, the composition of the US coffee supply has changed. In which case, US coffee imports from Brazil fell while rising in most other major markets.
The market share of Brazilian coffee in total US imports fell from 24.55% in the first four months of 2022 to 21.94% in the same period. In contrast, the US boosted its imports of Vietnamese coffee by 69.0% in value and 18.8% in volume over the same time in 2021.
In the market for non-alcoholic beverages, coffee is the most consumed beverage in the US, followed by carbonated drinks and bottled water.
Compared to the global price of coffee, the domestic price of coffee climbed.
In contrast to the global market’s declining trend, the price of Robusta coffee in the Central Highlands grew in the domestic market.
As a result, on June 18, 2022, the price of Robusta coffee in the domestic market in Vietnam rose to its peak level of 42,800 VND/kg from 200–300 VND/kg (depending on the region) on June 8, 2022. Dak Lak region.
Lam Dong province currently has the lowest price for coffee at 42,300 VND/kg, while Gia Lai and Dak Nong provinces charge 42,700 VND/kg.