(VAN) The price of Vietnamese coffee imported into China has risen sharply in 2024, while the price of imported coffee, in general, has declined in this market.
The price of Vietnamese coffee imported into China surged in 2024.
According to the Import-Export Department (Ministry of Industry and Trade), data from Chinese Customs shows that in 2024, the average price of Vietnamese coffee imported into China reached USD 4,176 per ton, marking a sharp increase of 63% compared to 2023.
While the price of Vietnamese coffee imported into China surged, the prices of coffee from other suppliers such as Colombia and Ethiopia declined. Overall, the average price of imported coffee in China also saw a slight decrease in 2024.
Despite the sharp rise, the price of Vietnamese coffee in the Chinese market remains significantly lower than the average import price of coffee into China in 2024, which stood at USD 5,095 per ton.
Vietnam ranked as the third-largest coffee supplier to China in 2024, with an export volume of 24,000 tons, valued at USD 101 million. This represents a 66% increase in volume and a 170% increase in value compared to 2023. Vietnam’s market share in China’s total coffee imports also rose from 9.44% in 2023 to 12.62% in 2024.
In the 11 months of 2024, China imported over USD 894 million worth of coffee, up 11.7% over the same period in 2023. Of which, China imported USD 97.4 million worth of coffee from Vietnam, up 161%.
In China, coffee consumption has increased by nearly 150% over the past 10 years and is forecast to reach 6.3 million bags (60kg bags) in the 2024-2025 crop year. With domestic production hovering around 2 million bags, China will have to ramp up imports to meet its growing domestic demand. Over the past decade, China’s coffee imports have nearly tripled and are forecast to reach 5.6 million bags in the 2024-2025 crop year.
In response to new market developments, the Import-Export Department forecasts that in 2025, Vietnam’s coffee exports will continue to grow as supply increases and consumer demand from countries around the world increases. Specifically, Vietnam’s coffee exports are expected to increase by 1.8 million bags in 2025, to 24.4 million bags thanks to improved supply.
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