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The MoIT’s Import and Export Department cited statistics released by the International Trade Center (ITC) which indicate that Poland's coffee imports throughout the 2015 to 2019 period grew by an average of 6.5% annually, from 141,144 tonnes in 2015 to a total of 181,086 tonnes in 2019. During the nine-month period, the Eastern European country’s coffee imports reached 136,300 tonnes with a value of US$448.71 million, showing an increase of 2.7% in volume and 6.7% in value from the same period in 2019. Most notably, the average import price of coffee within the Polish market witnessed a surge of 3.9% to US$3,291 per tonne compared to last year’s corresponding period. Throughout the reviewed period, Poland increased its coffee imports from the majority of its regular markets, although imports from both Germany and Uganda declined. The figures indicate that the Eastern European nation increased coffee imports from Vietnam by 30.6% in volume and 27.1% in value, with the Vietnamese … [Read more...] about Poland increases imports of Vietnamese coffee

Since Vietnam joined the International Coffee Organization (ICO), the coffee industry has experienced three crises, with the first occurring in 1991 when the ICO removed the quota system, causing the price of Arabica coffee to drop from US$4,000 per tonne to US$3,000 per tonne. The second happened in 2000 when the price of Robusta coffee dropped to US$400 per tonne, and the third took place last year when the price fell by between US$1,300 and US$1,400. Addressing this thorny issue, almost all coffee businesses have participated in e-commerce trading platforms, marketing the products in London and New York. Private firms have also moved to swiftly set up websites in order to sell their coffee products online, with on-demand home delivery services witnessing rapid growth. Aside from serving customers at coffee shops, take-away services have also been added to allow customers to increase the efficiency of doing business whilst simultaneously ensuring COVID-19 preventive measures … [Read more...] about Coffee industry seeks to weather COVID-19 crisis

Statistics compiled by the General Department of Vietnam Customs indicate that Vietnam exported 1.57 million tonnes of coffee worth US$2.74 billion last year, representing a decrease of 5.6% in volume and 4.2% in value, while the average export price saw a slight increase of 1.4% to US$1,751.2 per tonne compared to 2019. Germany remains the largest consumer of Vietnamese coffee, importing 223,581 tonnes worth US$350.41 million, marking a decline of over 4% in both volume and turnover. Meanwhile, the average export price in the market stood at US$1,567 per tonne, a rise of 0.4%. The Southeast Asian market ranked second in terms of turnover with US$328.36 million, a drop of 8.6% in turnover, followed by the United States’ market with US$254.89 million. The MARD anticipates that there are positive signs moving forward for coffee exports as Vietnam’s coffee export markets suffered huge losses due to the COVID-19 pandemic leading to an increase in domestic demand for coffee. Despite … [Read more...] about Coffee sector to boost exports on EVFTA incentives