Vietnam's coffee export revenue hits record high of $5.47 bln in H1

Vietnam’s coffee export revenue in the first half of the year reached a record high of $5.47 billion, representing a remarkable increase of 67.5% year-on-year, according to the Ministry of Agriculture and Environment.

The figure surpasses the whole year’s target of $5.4 billion.

Nearly 954,000 tons of coffee were exported during the period, jumping 5.3% compare d to the same period last year.

As of July 3, the coffee export revenue reached $5.5 billion. 

The strong growth is attributed to increasing coffee export prices. The average coffee export price in the first six months was estimated at $5,708.3 per ton, skyrocketing 59.1% year-on-year.

Germany, Italy and Spain are the three largest importers of Vietnamese coffee, accounting for 16.3%, 7.9% and 7.4% of the market share.

Vietnam's coffee export revenue is projected to reach $7.5 billion by the end of this year, soaring 37% year-on-year.