Vietnam: Coffee Annual

Post revised its Vietnam marketing year 2022/2023 (MY 2022/23) coffee production estimate down to 29.750 million bags, green bean equivalent (GBE), based on lower yields, high production costs, and a drop in cultivation area. Post revised MY 2021/22 exports up to 29.01 million bags (GBE) and ending stocks down to 3.58 million bags (GBE) due to favorable exchange rates and high export demand. Post also revised MY 2022/23 exports to 28.8 million bags (GBE) due to lower production and difficulties in purchasing new inventory. Post forecasts total coffee production in MY 2023/24 to increase to 31.3 million bags (GBE) due to favorable weather conditions and higher yields. Post forecasts MY2023/24 coffee exports at 27.5 million bags (GBE) based on a huge drop in stocks and stricter European Union import regulations.