Import-Export Department (Ministry of Industry and Trade) cited data from General Department of Customs, saying that Vietnam's coffee exports in November 2024 reached 45,000 tonnes, worth 262 million USD, down 0.9% in volume but up 0.8% in value compared to October 2024; down 62.0% in volume and down 26.5% in value compared to the same period in 2023.
In general, in the first 11 months of 2024, export of this item is estimated to reach nearly 1.20 million tonnes, worth 4.84 billion USD, down 15.4% in volume, but up 32.8% in value compared to the same period in 2023. Although export volume decreased, the price increased sharply, so Vietnam's coffee export turnover has now exceeded the whole year of 2023 and set a new record.
Coffee is agricultural product with the strongest price increase among Vietnam's key export commodities. In November 2024, average export price of coffee is estimated at 5,818 USD/tonne - the highest level ever. In the first 11 months of this year, average export price of coffee is estimated at 4,838 USD/tonne, an increase of 56.9% over the same period in 2023.
According to Import-Export Department, in November 2024, world coffee prices continued to increase and set a new record due to investors increasing purchases and concerns about delayed supply from Vietnam, along with forecasts of reduced output in Brazil, which are the driving forces for strong coffee growth.
Coffee prices also increased because Brazilian farmers held back their goods in the hope that prices would continue to increase, while high freight rates and a shortage of containers slowed down the flow of goods from the world's largest producer.
According to US Department of Agriculture, Brazil's 2024-25 coffee production forecast is 66.4 million bags, lower than the previous forecast of 69.9 million bags. Brazil's coffee inventories are forecast to be 1.2 million bags at the end of the 2024/25 crop year in June, down 26% year-on-year.
Meanwhile, unfavorable weather in Vietnam has affected key coffee harvesting regions, raising concerns about supply disruptions. At the same time, slow exports from Vietnam have tightened the world coffee market. However, in the medium term, world coffee prices will adjust down when more supply from Vietnam enters the market.

Source: Vitic/ congthuong.vn