Information from the Import-Export Department (Ministry of Industry and Trade), in August 2023, Vietnam’s average coffee export price recorded a record high of 3,054 USD/ton, up 8% compared to July 2023 and increasing. 29.7% compared to August 2022. In the first 8 months of 2023, our country’s average coffee export price reached 2,463 USD/ton, up 8.9% over the same period last year.

According to statistics from the General Department of Customs, in August 2023, Vietnam exported 221,270 tons of cassava and cassava products, worth 103.26 million USD, an increase of 52.4% in volume and an increase of 43. 7% in value compared to July 2023. The average export price of cassava and cassava products is at 466.7 USD/ton, down 5.7% compared to July 2023 and down 0.4% compared to August 2022.

In August 2023, China is still Vietnam’s largest export market for cassava and cassava products, accounting for 95.91% of the country’s total cassava exports with 212,230 tons, worth 98.04 million. USD, up 56.1% in volume and 47.2% in value compared to July 2023.

In the eight months of 2023, Vietnam exported 1.69 million tons of cassava and cassava products to China, worth 687.24 million USD, down 13.4% in volume and 19.9% ​​in value. prices compared to the same period in 2022.

The Import-Export Department forecasts that the demand for cassava and cassava starch from importers will still be high as countries increase food and grain reserves for consumption and animal feed production.

The EU is the largest market for Vietnamese coffee and has increased coffee imports from Vietnam in the first 6 months of 2023, up 21% in volume and 18.1% in value over the same period last year, reaching nearly 390,000 tons, worth 854.2 million EUR (equivalent to 914.1 million USD). Vietnam’s coffee market share in the EU’s total imports from foreign markets increased from 20.9% in the first 6 months of 2022 to 27.5% in the first 6 months of 2023.

Similarly for cashew nuts, in August 2023, Vietnam’s cashew nut exports continued to record a new record high of over 60,500 tons, worth 333.8 million USD, an increase of 10.8% in volume and increased by 9.7% in value compared to July 2023, increased by 29.2% in volume and 21.8% in value compared to August 2022.

Deputy Minister of Agriculture and Rural Development Phung Duc Tien assessed that this year, the cashew industry sets an export target of 3.1 billion USD. Besides favorable factors, this industry still faces many challenges. Notably, factories must depend on 50 – 60% of imported raw materials. To improve this problem, the key step is to promote renovation and improve the yield and quality of Vietnamese cashew trees.

For coffee, the Ministry of Agriculture and Rural Development and the Central Highlands provinces have currently implemented many programs to support and encourage farmers to switch to high-quality coffee production models, especially specialty coffee. Accordingly, many cooperatives and farmers have earned high profits, while increasing the brand value of coffee in the Central Highlands.