HANOI: Vietnam's coffee exports reached US$5.43 billion in the 2023-2024 crop year that lasted from Oct 1, 2023 to Sept 30, 2024, the highest level ever in a coffee season, Vietnam News cited the Coffee and Cocoa Association on Tuesday (Oct 22).
The export value soared by 33.1 per cent compared to the previous crop year, marking the first time the country's coffee export turnover exceeded the US$5 billion mark in a single season, said the report.
Nguyen Nam Hai, the association's chairman, attributed the value increase to the hiked prices.
Vietnam's average export price in the cited crop year was $3,673 per tonne, nearly 50 per cent higher than in the previous year.
With such a price, coffee is the export product with the strongest price rise among Vietnam's major agricultural exports, according to the report.
The South-East Asian country exported about 1.46 million tonnes of coffee in the entire 2023-24 crop year, a 12.1-per cent decrease compared to the previous crop year. - Xinhua
