Vietnam is about to "surpass" Brazil to become the world's largest coffee exporter

Vietnam is in the ranking of the largest coffee exporting countries in the world, due to the sharp decline in Robusta coffee export turnover for many years.

Vietnam is about to "surpass" Brazil to become the world's largest coffee exporter

According to official statistics, Brazil is gradually losing its leading position to Vietnam in the ranking of the world's largest coffee exporting countries, due to the sharp decline in Robusta exports. many years.

The Brazilian coffee traders have confirmed once again that they are still able to meet the coffee demand in the market.

However, according to official statistics, this country is gradually losing its leading position to Vietnam in the ranking of the world's largest coffee exporting countries, at least temporarily due to The export turnover of Robusta coffee (also known as Robusta coffee) has fallen sharply over the years.

Mr. Nelson Carvalhaes, president of coffee export group Cecafé said last month that Brazil exported nearly 2.5 million bags of coffee, meeting the market demand even though it was the month of Carnaval festival.

However, the 2.48 million bags of coffee that Brazil exported in February was the lowest level in four years, down 15.5% over the same period last year, mainly due to commodity exports. Robusta coffee is reduced.

This figure is close to the amount of coffee exported by Vietnam in February with 2.44 million bags (equivalent to 146.402 tons). Currently, Vietnam is ranked second in the ranking of the world's largest coffee exporting countries.

Although Vietnam's supply of coffee to the world market has been somewhat interrupted due to the Lunar New Year holiday lasting more than a week, exports still increased by 23%.

Vietnam is about to "surpass" Brazil to become the world's largest coffee exporter

Overcoming all predictions

Vietnam's coffee export strength has surprised many investors and experts. I&M Smith said that Vietnam's coffee export turnover exceeded all predictions.

The Vietnamese industry leader had previously predicted that February coffee exports would reach about 2.17 million bags while traders forecast this figure to fluctuate between 1.83 and 2.33 million bags.

This growth is still strong even when Brazil does not import Robusta coffee from Vietnam as planned before due to the prolonged drought in this country affecting the crop.

A trader said, "Perhaps if Brazil acted according to the plan as originally, Vietnam's coffee exports in the past month have" surpassed "Brazil.

Exports declined continuously for many years

Brazil's Robusta supply has become more scarce over the years. This is most evident in the table of coffee beans exports of this country last month fell 57% compared to January, to 9.62 million bags. This is also the lowest level since 2012.

Arabica coffee exports in February only reached 2.22 million bags, down 8.1% from January and down 12.9% over the same period last year.

In the first two months of the year, Brazil exported a total of 5.11 million bags of coffee, of which Germany imported the largest amount of coffee from this South American country w

ith 1 million bags, up 2.1% over the same period. period last year. The US is Brazil's second biggest coffee partner (after Germany) with 957,726 bags shipped to the country in January and February, down 14.6%.

Farmers do not want to sell

At current prices, Brazilian farmers refuse to sell coffee even when the real currency is weaker than the dollar. In fact, they are betting that the real currency will weaken further pushing up the price of a commodity denominated in USD on international markets such as coffee.

As for Vietnam, I&M Smith also warned that Vietnam's coffee exports would encounter obstacles as domestic demand is forecast to increase by about 2.8 million bags per year.

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