HANOI, July 1 (Bernama): Vietnam is seeing a surge in the price of its famous coffee exported to the United States (US) and is expected to gain more opportunities in this market, Vietnam News Agency (VNA) reported.
In the first five months of 2022, Vietnam shipped 50,580 tonnes of coffee to the US for US$124.95 million, down 2.9 per cent in volume, but up 23.6 per cent in value year-on-year, according to the Ministry of Industry and Trade’s Import-Export Department.
Vietnam earned US$2,470 per tonne, up 27.2 per cent compared to that in the same period last year.
Experts forecast that in the 2020 - 2025 period, the US coffee market will grow at an average rate of 4.8 per cent.
The main factors driving the growth of the market are increasingly hectic lifestyles and long working hours, which make coffee chains in the country more popular among consumers.
The opportunity is big, the Import-Export Department stressed, however, advising exporters to pay attention to the US’s production standards, including Fairtrade USDA, Organic, Rainforest Alliance/UTZ Certified, Bird Friendly, Carbon Neutral, Organic và Direct Trade. - Bernama