Coffee export revenue hits a record of $4.92 bln in 11M

Vietnam posted a record coffee export revenue of $4.92 billion in the first 11 months of the year from the shipment of 1.25 million tons of the product, figures from the Vietnam Coffee Cocoa Association show.

The figures represent a year-on-year reduction of 8% in volume but an increase of 40.5% in value which was driven by a sharp rise in export prices.

In the global market on December 2, Robusta coffee on the ICE Futures Europe exchange (November 2024 contracts) hit $5,471 per ton, up $666 compared to last week.

Meanwhile, prices of Arabica coffee on the New York exchange (December 2024 contracts) climbed to 321.85 cents/lb, up 25.10 cents/lb compared to last week.

In the domestic market, coffee prices have also risen sharply. On December 2, raw coffee beans in the Central Highlands region reached VND129,200 ($5.07) per kg, soaring VND60,000 ($2.35) per kg compared to that of January 1 this year.