Promote export promotion of Vietnamese coffee and spice products

According to the Department of Trade Promotion, Vietnamese agricultural products have long played an important role in international trade activities, especially in recent years, when Vietnam’s economy has increased openness and deep integration. expanding to the world, creating conditions to promote investment in high-tech agricultural production, changes in production and export structure, focusing on exploiting products with advantages and competitiveness, promoting diversification. market diversification, many Vietnamese agricultural products such as coffeepepper, cashew, vegetables and fruits… have conquered and won the trust of consumers in demanding markets such as Europe, America, Japan and many other countries around the world.

The Department of Trade Promotion said that good quality, competitive prices and product diversity, along with efforts to comply with requirements and regulations on product safety standards, are important factors helping Vietnam becoming an important link in the supply chain and global agricultural value.

In the context of Vietnam’s trade activities facing many difficulties in many fields globally, Vietnamese agricultural products, especially coffee and spices (notably pepper, cinnamon, anise… .), remains steadfast, maintaining positive signals in the market as well as demonstrating a high level of adaptability.

As one of the world’s leading coffee producing and exporting countries, Vietnamese coffee products are present in 80 countries and territories, including roasted, ground and instant coffee. Exports account for 9.1% of the market share, opening up many opportunities and prospects for the Vietnamese coffee industry.

In addition to its strength in coffee production and export, Vietnam is also one of the world’s leading countries in supplying pepper and spices with a turnover of about 1.5 billion USD per year. Vietnamese spices have also been exported to more than 125 countries, belonging to the group of leading countries in global spice exports, dominating many important markets.

According to preliminary statistics from the General Department of Customs, in the first period of April this year, exports of agricultural products, coffee and spices, both increased. Coffee export turnover is estimated to reach more than 306 million USD, an increase of about 59%, pepper export turnover is estimated to reach about 58.5 million USD, an increase of about 40% over the same period last year.

Although positive signs have been recorded since the first months of 2024, it is forecast that demand for coffee and spices will continue to be directly affected by trade instability. The global financial market is accompanied by signs of economic recession, prolonged geopolitical tensions, strong fluctuations in the global financial market, and fluctuations in market prices (compared to the same period last year, currently). Pepper prices increased by 30%, coffee prices increased by 100%).

According to Director of the Trade Promotion Department Vu Ba Phu, this year the Vietnamese coffee market has become a topical issue, coffee prices increased sharply from 30,000-50,000 VND/kg to more than 130,000 VND/kg, causing greatly affects the Vietnamese coffee supply chain.

Exporters and domestic coffee purchasing trading companies have signed contracts with overseas coffee importers since the beginning of the coffee season with prices ranging from about 50,000-70,000 VND/kg, up to now. , due to the scarcity of coffee in foreign markets, supply not meeting demand,… supply chains have changed, geopolitics have changed, so the world coffee market has fluctuated greatly, coffee prices have skyrocketed.

Up to now, due to the increase in coffee prices, many growers who harvest coffee do not want to sell, leading to “burned” contracts with foreign suppliers and importers, greatly affecting the reputation of the coffee industry. Vietnamese coffee in the international export market.

Similar to coffee, pepper and other spices are also expected to increase in price in the near future.

Therefore, at the Trade Promotion Conference with the Vietnamese trade system abroad in April 2024, delegates will focus on exchanging and updating market information and practical recommendations based on needs. Promote the export of localities and businesses to continue maintaining the export market share of the above two potential product groups, and at the same time propose specific solutions and plans to support the development of the coffee and coffee market. spices in 2024.

The conference includes 2 main discussion sessions:

Session 1: Assessing the situation of export promotion of coffee and spice products: Current situation, advantages, difficulties and suggestions and recommendations for trade promotion tasks and solutions.

Session 2: Updated information on policies and recommendations of the Trade Office, international trade support organizations for export promotion of coffee and spice products.