Vietnamese coffee exports to Germany anticipated to see recovery
Vietnam’s coffee exports to Germany are expected to rebound this year following the implementation of COVID-19 containment efforts and advantages gained from the EU-Vietnam Free Trade Agreement (EVFTA).
Statistics compiled by the International Trade Center (ITC) indicate that Germany imported 1,020 million tonnes of coffee worth USD3.34 billion last year, representing a rise of 0.8% in volume and up 13.2% in value against the same period from 2020.
The average import price of coffee within the German market during the 10-month period last year surged by 12.3% to USD3,256 per tonne.
The country’s coffee exports to Germany faced hurdles last year due to the complicated nature of developments relating to the COVID-19 pandemic
Throughout the reviewed period, Germany imported 175,000 tonnes of coffee worth over USD312 million from the Vietnamese market, representing a fall of 15.8% in volume and 6.0% in value against the same period from 2020.
Most notably, the market share of Vietnamese coffee as part of Germany's total imports dropped from 20.42% during the ten-month period from 2020 to 17.05% in 2021.
According to experts, the enforcement of the EVFTA will contribute to helping the Vietnamese coffee industry boost exports to the German market in the year ahead.
Despite these optimistic signs, Vietnamese coffee exporters have been advised to grasp German coffee consumption tastes in a bid to improve its value and increase its overall market share within the demanding market.
Experts pointed out that Arabica coffee is viewed as being the fastest growing segment and is forecast to enjoy an increase in imports during the 2020 to 2025 period, especially as German consumers increasingly prefer specialty coffee.
Moreover, with ground coffee making up a large market share due to its convenience in consumption, local firms are expected to make use of the huge opportunities to boost exports of the coffee product to the demanding market moving forward.
