Business in Vietnam’s coffee industry was slower than usual in October as a result of limited supplies. Part of this was after higher prices earlier in the year saw traders liquidate their supplies. As a result, just US$168 million worth of coffee left Vietnam a fraction of the US$3.23 billion it has shipped out so far this year. It is, however, only the beginning of the harvest season so these numbers should increase moving forward.
Key developments, Vietnam coffee, October 2023
Beyond coffee farming, the coffee industry also saw a number of key investments in October that should give the local coffee processing sector a boost. This included:
- France’s Louis Dreyfus Company and Poland’s Instanta Sp. z o.o. inaugurated a freeze-dried instant coffee production facility in Vietnam’s Binh Duong province. With a US$84.2 million price tag, the new plant has a capacity of 5,600 tons a year.
- Cao Nguyen Coffee Service (AKA Highlands Coffee) announced it is building a VND 500 billion (US$21 million) coffee roasting facility in southern Vietnam. The coffee chain is among Vietnam’s biggest with 700 stores nationwide and 50 in the Philippines. This new factory will see greater vertical integration for the company, but also value-add to the local coffee industry which is the second biggest exporter of coffee in the world.
- Australian coffee chain Ten Thousand opened a store in the Vietnamese capital Hanoi’s new Lotte West Lake shopping complex. This is the group’s seventh store, with just one in Australia, three in the USA, and two in Taiwan.
It’s also worth noting that several Vietnamese coffee brands have also made headway in expanding abroad. In October, Hanoi headquartered Cong Cafe announced it would open its first store in Toronto, Canada. That has since been delayed but it did get tongues wagging about local coffee brands that are making it (or maybe it should be ‘brewing it’) abroad.
See also: How to Open a Cafe in Vietnam: Ultimate Guide 2023
Coffee exports
In October, Vietnam exported a total of US$168 million worth of coffee to more than 35 countries. Its top export market was Japan which received 4,327 tons of Vietnam’s coffee exports.
Vietnam’s coffee exports, October 2023
| October | Year to date | |||
| Tons | Value (USD) | Volume | Value (USD) | |
| Total | 43,725 | 157,551,787 | 1,296,705 | 3,286,643,607 |
| Foreign invested enterprises (FIE) | 27,050 | 105,162,055 | 482,994 | 1,410,894,527 |
| FIE % of total | 61.86 | 66.75 | 37.25 | 42.93 |
Source: Statistics Of FDI Traders By Main Export, Statistics Of Main Exports By Month
Top 10 markets for Vietnam’s coffee exports, October 2023
| October | Year to date | |||
| Destination | Tons | Value (USD) | Volume | Value (USD) |
| Japan | 4,327 | 16,053,063 | 88,070 | 252,502,527 |
| Spain | 3,919 | 15,974,925 | 73,009 | 196,315,010 |
| Philippines | 3,593 | 14,394,873 | 32,136 | 111,805,339 |
| China | 2,852 | 11,651,515 | 32,940 | 112,971,525 |
| Thailand | 3,292 | 10,351,145 | 26,838 | 88,619,552 |
| Korea | 2,669 | 7,010,359 | 34,578 | 85,837,336 |
| Indonesia | 1,273 | 6,588,210 | 32,554 | 106,759,320 |
| United States of America | 1,759 | 6,307,777 | 93,866 | 225,222,978 |
| United Kingdom | 1,274 | 5,722,084 | 31,384 | 83,871,299 |
| Russian Federation | 1,051 | 5,153,384 | 72,385 | 188,143,847 |
| Total | 39,612 | 144,991,988 | 1,101,863 | 2,849,043,068 |
Source: General Department of Customs
See also: How to Export Coffee from Vietnam: Ultimate Guide 2023
Coffee imports
Vietnam recorded no coffee imports of a notable size in October 2023 according to the Customs Department of Vietnam.
See also: How to Import Coffee to Vietnam: Ultimate Guide 2023
Vietnam coffee prices
Vietnam has four key coffee producing regions. These are Dak Lak, Lam Dong, Gia Lai, and Dak Nong. Each has its own pricing structure (see below).
Dak Lak
| Dak Lak | ||||
| Date | Per Kilo | Change | ||
| Date | VND | US$ | VND | US$ |
| 3/10 | 66,400 | $2.73 | – | – |
| 4/10 | 65,400 | $2.69 | -1,000 | -$0.04 |
| 5/10 | 65,000 | $2.67 | -400 | -$0.02 |
| 6/10 | 64,500 | $2.65 | -500 | -$0.02 |
| 7/10 | 64,200 | $2.64 | -300 | -$0.01 |
| 10/10 | 63,700 | $2.62 | -500 | -$0.02 |
| 11/10 | 63,700 | $2.62 | 0 | $0.00 |
| 12/10 | 63,300 | $2.60 | -400 | -$0.02 |
| 13/10 | 63,400 | $2.61 | 100 | $0.00 |
| 14/10 | 63,700 | $2.62 | 300 | $0.01 |
| 17/10 | 63,800 | $2.62 | 100 | $0.00 |
| 18/10 | 64,200 | $2.64 | 400 | $0.02 |
| 19/10 | 57,200 | $2.35 | -7,000 | -$0.29 |
| 20/10 | 58,400 | $2.40 | 1,200 | $0.05 |
| 21/10 | 59,900 | $2.46 | 1,500 | $0.06 |
| 23/10 | 60,300 | $2.48 | 400 | $0.02 |
| 24/10 | 61,300 | $2.52 | 1,000 | $0.04 |
| 25/10 | 61,000 | $2.51 | -300 | -$0.01 |
| 26/10 | 60,400 | $2.48 | -600 | -$0.02 |
| 27/10 | 60,000 | $2.47 | -400 | -$0.02 |
| 28/10 | 59,500 | $2.45 | -500 | -$0.02 |
| 31/10 | 58,500 | $2.40 | -1,000 | -$0.04 |
Source: Gia Caphe
Lam Dong
| Lam Dong | |||
| Per Kilo | Change | ||
| VND | US$ | VND | US$ |
| 65,800 | $2.71 | – | – |
| 64,800 | $2.66 | -1,000 | -$0.04 |
| 64,400 | $2.65 | -400 | -$0.02 |
| 64,000 | $2.63 | -400 | -$0.02 |
| 63,700 | $2.62 | -300 | -$0.01 |
| 63,200 | $2.60 | -500 | -$0.02 |
| 63,200 | $2.60 | 0 | $0.00 |
| 62,800 | $2.58 | -400 | -$0.02 |
| 62,900 | $2.59 | 100 | $0.00 |
| 63,200 | $2.60 | 300 | $0.01 |
| 63,300 | $2.60 | 100 | $0.00 |
| 63,700 | $2.62 | 400 | $0.02 |
| 56,400 | $2.32 | -7,300 | -$0.30 |
| 57,600 | $2.37 | 1,200 | $0.05 |
| 59,100 | $2.43 | 1,500 | $0.06 |
| 59,400 | $2.44 | 300 | $0.01 |
| 60,400 | $2.48 | 1,000 | $0.04 |
| 60,200 | $2.47 | -200 | -$0.01 |
| 59,600 | $2.45 | -600 | -$0.02 |
| 59,200 | $2.43 | 60,000 | $2.47 |
| 58,700 | $2.41 | -500 | -$0.02 |
| 57,700 | $2.37 | -1,000 | -$0.04 |
Source: Gia Caphe
Gia Lai
| Gia Lai | ||||
| Date | Per Kilo | Change | ||
| Date | VND | US$ | VND | US$ |
| 3/10 | 66,200 | $2.72 | – | – |
| 4/10 | 65,200 | $2.68 | -1,000 | -$0.04 |
| 5/10 | 64,800 | $2.66 | -400 | -$0.02 |
| 6/10 | 64,400 | $2.65 | -400 | -$0.02 |
| 7/10 | 64,100 | $2.64 | -300 | -$0.01 |
| 10/10 | 63,600 | $2.61 | -500 | -$0.02 |
| 11/10 | 63,600 | $2.61 | 0 | $0.00 |
| 12/10 | 63,200 | $2.60 | -400 | -$0.02 |
| 13/10 | 63,300 | $2.60 | 100 | $0.00 |
| 14/10 | 63,500 | $2.61 | 200 | $0.01 |
| 17/10 | 63,600 | $2.61 | 100 | $0.00 |
| 18/10 | 64,000 | $2.63 | 400 | $0.02 |
| 19/10 | 57,000 | $2.34 | -7,000 | -$0.29 |
| 20/10 | 58,200 | $2.39 | 1,200 | $0.05 |
| 21/10 | 59,600 | $2.45 | 1,400 | $0.06 |
| 23/10 | 60,000 | $2.47 | 400 | $0.02 |
| 24/10 | 61,000 | $2.51 | 1,000 | $0.04 |
| 25/10 | 60,800 | $2.50 | -200 | -$0.01 |
| 26/10 | 60,300 | $2.48 | -500 | -$0.02 |
| 27/10 | 59,900 | $2.46 | -400 | -$0.02 |
| 28/10 | 59,400 | $2.44 | -500 | -$0.02 |
| 31/10 | 58,400 | $2.40 | -1,000 | -$0.04 |
Source: Gia Caphe
Dak Nong
| Dak Nong | ||||
| Date | Per Kilo | Change | ||
| Date | VND | US$ | VND | US$ |
| 3/10 | 66,600 | $2.74 | – | – |
| 4/10 | 65,600 | $2.70 | -1,000 | -$0.04 |
| 5/10 | 65,000 | $2.67 | -600 | -$0.02 |
| 6/10 | 64,600 | $2.66 | -400 | -$0.02 |
| 7/10 | 64,300 | $2.64 | -300 | -$0.01 |
| 10/10 | 63,800 | $2.62 | -500 | -$0.02 |
| 11/10 | 63,800 | $2.62 | 0 | $0.00 |
| 12/10 | 63,300 | $2.60 | -500 | -$0.02 |
| 13/10 | 63,400 | $2.61 | 100 | $0.00 |
| 14/10 | 63,700 | $2.62 | 300 | $0.01 |
| 17/10 | 63,800 | $2.62 | 100 | $0.00 |
| 18/10 | 64,200 | $2.64 | 400 | $0.02 |
| 19/10 | 57,000 | $2.34 | -7,200 | -$0.30 |
| 20/10 | 58,200 | $2.39 | 1,200 | $0.05 |
| 21/10 | 59,700 | $2.45 | 1,500 | $0.06 |
| 23/10 | 60,100 | $2.47 | 400 | $0.02 |
| 24/10 | 61,100 | $2.51 | 1,000 | $0.04 |
| 25/10 | 60,800 | $2.50 | -300 | -$0.01 |
| 26/10 | 60,400 | $2.48 | -400 | -$0.02 |
| 27/10 | 60,000 | $2.47 | -400 | -$0.02 |
| 28/10 | 59,500 | $2.45 | -500 | -$0.02 |
| 31/10 | 58,500 | $2.40 | -1,000 | -$0.04 |
Source: Gia Caphe
World coffee prices
London Robusta Futures
| Date | 1/24 | Change | 3/24 | Change | 5/24 | Change |
| 3/10 | ||||||
| 4/10 | $2,374 | – | $2,315 | – | $2,283 | – |
| 5/10 | $2,332 | -$42 | $2,275 | -$40 | $2,242 | -$41 |
| 6/10 | $2,315 | -$17 | $2,258 | -$17 | $2,229 | -$13 |
| 7/10 | $2,302 | -$13 | $2,246 | -$12 | $2,225 | -$4 |
| 10/10 | $2,280 | -$22 | $2,228 | -$18 | $2,209 | -$16 |
| 11/10 | $2,243 | -$37 | $2,196 | -$32 | $2,179 | -$30 |
| 12/10 | $2,245 | $2 | $2,198 | $2 | $2,183 | $4 |
| 13/10 | $2,235 | -$10 | $2,190 | -$8 | $2,177 | -$6 |
| 14/10 | $2,255 | $20 | $2,207 | $17 | $2,193 | $16 |
| 17/10 | $2,284 | $29 | $2,227 | $20 | $2,209 | $16 |
| 18/10 | $2,296 | $12 | $2,239 | $12 | $2,217 | $8 |
| 19/10 | $2,320 | $24 | $2,269 | $30 | $2,248 | $31 |
| 20/10 | $2,335 | $15 | $2,283 | $14 | $2,259 | $11 |
| 21/10 | $2,402 | $67 | $2,343 | $60 | $2,314 | $55 |
| 23/10 | $2,479 | $77 | $2,422 | $79 | $2,394 | $80 |
| 24/10 | $2,479 | $0 | $2,422 | $0 | $2,394 | $0 |
| 25/10 | $2,526 | $47 | $2,458 | $36 | $2,430 | $36 |
| 26/10 | $2,493 | -$33 | $2,439 | -$19 | $2,419 | -$11 |
| 27/10 | $2,467 | -$26 | $2,427 | -$12 | $2,410 | -$9 |
| 28/10 | $2,420 | -$47 | $2,385 | -$42 | $2,367 | -$43 |
| 31/10 | $2,383 | -$37 | $2,355 | -$30 | $2,338 | -$29 |
Source: Gia Caphe
New York Arabica
| Date | 12/23 | Change | 03/24 | Change | 05/24 | Change | 07/24 | Change |
| 3/10 | 149.10 | – | 150.10 | – | 150.85 | – | 151.70 | – |
| 4/10 | 148.75 | -0.35 | 149.70 | -0.40 | 150.35 | -0.50 | 151.15 | -0.55 |
| 5/10 | 146.35 | -2.40 | 147.35 | -2.35 | 148.15 | -2.20 | 149.00 | -2.15 |
| 6/10 | 145.40 | -0.95 | 146.40 | -0.95 | 147.05 | -1.10 | 147.90 | -1.10 |
| 7/10 | 146.05 | 0.65 | 147.20 | 0.80 | 148.00 | 0.95 | 148.85 | 0.95 |
| 10/10 | 146.05 | 0.00 | 147.25 | 0.05 | 148.10 | 0.10 | 148.90 | 0.05 |
| 11/10 | 147.50 | 1.45 | 148.45 | 1.20 | 149.25 | 1.15 | 150.05 | 1.15 |
| 12/10 | 147.70 | 0.20 | 148.65 | 0.20 | 149.30 | 0.05 | 150.05 | 0.00 |
| 13/10 | 149.30 | 1.60 | 150.00 | 1.35 | 150.65 | 1.35 | 151.35 | 1.30 |
| 14/10 | 154.90 | 5.60 | 155.15 | 5.15 | 155.60 | 4.95 | 156.25 | 4.90 |
| 17/10 | 154.15 | -0.75 | 154.70 | -0.45 | 155.25 | -0.35 | 155.90 | -0.35 |
| 18/10 | 157.05 | 2.90 | 156.70 | 2.00 | 157.05 | 1.80 | 157.60 | 1.70 |
| 19/10 | 158.05 | 1.00 | 157.65 | 0.95 | 158.05 | 1.00 | 158.60 | 1.00 |
| 20/10 | 163.95 | 5.90 | 161.80 | 4.15 | 161.75 | 3.70 | 162.15 | 3.55 |
| 21/10 | 165.25 | 1.30 | 164.40 | 2.60 | 164.65 | 2.90 | 165.05 | 2.90 |
| 23/10 | 165.25 | 0.00 | 164.40 | 0.00 | 164.65 | 0.00 | 165.05 | 0.00 |
| 24/10 | 165.85 | 0.60 | 164.95 | 0.55 | 165.30 | 0.65 | 165.85 | 0.80 |
| 25/10 | 168.15 | 2.30 | 167.10 | 2.15 | 167.55 | 2.25 | 168.20 | 2.35 |
| 26/10 | 162.30 | -5.85 | 162.05 | -5.05 | 162.65 | -4.90 | 163.55 | -4.65 |
| 27/10 | 161.20 | -1.10 | 160.90 | -1.15 | 161.40 | -1.25 | 162.25 | -1.30 |
| 28/10 | 160.95 | -0.25 | 160.50 | -0.40 | 161.10 | -0.30 | 162.00 | -0.25 |
| 31/10 | 159.10 | -1.85 | 158.30 | -2.20 | 158.80 | -2.30 | 159.75 | -2.25 |
Source: Gia Caphe