According to data from the General Department of Customs, Vietnam’s coffee exports to the U.K. in June 2024 totaled 2,180 tons, valued at 9.1 million USD, down 44.6% in volume and 17.5% in value compared to June 2023. The significant drop in coffee volume has led to a sharp increase in prices.
The U.K. imports coffee from 94 countries and territories worldwide. The primary coffee suppliers to the U.K. market include Brazil, Vietnam, Germany, Italy, and Colombia.
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Vietnamese coffee export prices to U.K. surge (Photo for illustration) |
According to statistics from the International Trade Center (ITC), in the first five months of 2024, the U.K. imported 94,210 tons of coffee from the world, worth 553 million USD, an increase of 8.1% in volume and 2.6% in value compared to the same period last year.
The average import price of coffee into the U.K. from the world reached 5,870 USD per ton, down 5.2% compared to the same period last year. Notably, the average import price of coffee from Brazil, Germany, and Colombia decreased; however, the average import price from Vietnam surged by 45.4% to 3,378 USD per ton.
Brazil is the largest coffee supplier to the U.K. in the first five months of 2024, with a volume of approximately 37,470 tons, valued at 128.81 million USD, an increase of 93.8% in volume and 45.1% in value.
Vietnam followed as the second-largest coffee supplier to the U.K. in the first five months of 2024, with a volume of 15,330 tons, valued at 51.79 million USD, a decrease of 22.8% in volume but an increase of 12.2% in value compared to the same period last year.
Vietnam’s share of total U.K. coffee imports from the world decreased from 22.8% in the first five months of 2023 to 16.27% in the first five months of 2024. During the first five months of 2024, the U.K. increased its coffee imports from Germany and Italy but reduced imports from Colombia.
Source: VNA