Coffee export prices have climbed to a new high of $3,054 per ton last August. In the domestic market, new price records have also occurred. Businesses say there is no more coffee to sell, which has rarely happened.

Vietnam’s coffee sector has not been able to cash in on increased coffee prices due to a lack of product.

Vietnamese coffee exports have witnessed positive signs thanks to constant soaring prices in recent times, according to the Mercantile Exchange of Vietnam (MXV).

The country had exported a total of 1.54 million tonnes of coffee worth US$2.81 billion by mid-August, representing a fall of 20% in volume but up nearly 5% in value on-year thanks to high export prices.

Coffee is an export highlight of agricultural products in the first half of 2023, as the industry's export revenue earned 2 billion USD in the period, the General Department of Customs has announced.

Supply shortages are expected to affect Vietnam's Robusta coffee market. Demand is believed to stay high in the time to come, paving the way for coffee prices to continue rising for half a year.

Thanks to a trend of hiking in coffee prices, experts have predicted that this year’s export revenue of this product may exceed last year’s record of 4 billion USD.

Global and domestic coffee prices are at high levels, providing opportunities for Viet Nam to maintain a coffee export revenue of over US$4 billion this year, a record set in 2022, while the global supply is narrowing down.

Organisers of the first Vietnam Amazing Cup 2023 put coffee up for auction for the first time in Vietnam at a ceremony in the Central Highlands city of Buon Ma Thuot on April 29.

Vietnam is the world's second largest coffee exporter, but its impact on the world coffee market is not commensurate with its position, experts say.

Supporting start-ups in building coffee shops in the Republic of Korea (RoK) is among the recommendations by the Vietnam Trade Office in the RoK to help spread the Vietnamese coffee culture in this country.

Although ranking second in the world, Vietnam's coffee exports are plummeting.