Vietnamese coffee export prices to the United Kingdom surge

According to data from the General Department of Customs, Vietnam is the second-largest supplier of coffee to the United Kingdom.

Vietnam’s coffee exports to the United Kingdom in June 2024 totalled 2.18 thousand tonnes, valued at US$9.1 million, 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 United Kingdom imports coffee from 94 countries and territories worldwide. The primary coffee suppliers to the UK market include Brazil, Vietnam, Germany, Italy, and Colombia.

According to statistics from the International Trade Centre (ITC), in the first five months of 2024, the United Kingdom imported 94.21 thousand tonnes of coffee from the world, worth US$553 million, 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 UK from the world reached US$5,870 per tonne, 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 US$3,378 per tonne.

Brazil is the largest coffee supplier to the United Kingdom in the first five months of 2024, with a volume of approximately 37.47 thousand tonnes, valued at US$128.81 million, an increase of 93.8% in volume and 45.1% in value.

Vietnam followed as the second-largest coffee supplier to the UK in the first five months of 2024, with a volume of 15.33 thousand tonnes, valued at US$51.79 million, 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 UK 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 UK increased its coffee imports from Germany and Italy but reduced imports from Colombia.