A sharp rise in export prices has been the major reason behind a surge in the export revenue of Vietnamese coffee sector so far, according to the Việt Nam Coffee-Cocoa Association (Vicofa).
As a major coffee exporter to the EU, Việt Nam should get prepared for the deforestation law to maintain and expand coffee export to the block, raising the pressing need for digitalization of the value chain.
Viet Nam''s coffee exports and consumption in the 2019 – 2020 period have taken a hit compared to the same period last year due to the impact of COVID-19.
Viet Nam exported more than 1.8 million tonnes of coffee worth US$3.54 billion in 2018, marking year-on-year rises of 20 per cent and 1.2 per cent respectively.
Many face bankruptcy since, under pressure from lending banks, they have
been forced to sell at much lower than the prices they paid for the
coffee several months earlier.