US increases to import Vietnamese coffee

Friday, 24/06/2022 16:57
The General Department of Vietnam Customs revealed that the market share of Vietnamese coffee grew from 8.95% to 9.6% of the United States’ total imports during the period from January to April of this year.

Photo for illustration (Source: VOV) 

Most notably, the US imported 73,840 tonnes of coffee worth US$254.8 million from the nation, thereby marking an increase of 18.8% in volume and 69.0% in value against the same period from last year.

According to the Voice of Vietnam, Vietnam raked in US$124.95 million from exporting 50,580 tonnes of coffee during the five-month period, representing a fall of 2.9% in volume, but a rise of 23.6% in value compared to the same period from last year.

The average export price of Vietnamese coffee to the US in the reviewed period witnessed an annual surge of 27.2% to reach US$2,470 per tonne.

Furthermore, Robusta coffee exports to the US during the first four months of the year soared by 7.1% to US$64.19 million, an increase of 7.1% in volume and 36% in value on-year, while the average export price of Vietnamese Robusta coffee in the market rose by 27% to US$1,970 per tonne.

Moreover, the country grossed US$23.25 million from the export of Arabica coffee to the US market throughout the reviewed period, a drop of 30.3% in volume, but up 12.1% in value on-year.

The average export price of Vietnamese Arabica coffee also surged by 27% to US$4,402 per tonne on-year.

However, Vietnam's processed coffee export turnover to the fastidious market dropped by 33.2% on-year to US$15.44 million.

16 Vietnamese designers to open Thailand Fashion Week 2022

A fashion collection by 16 young Vietnamese designers is set to open Thailand Fashion Week 2022 for the first time, with the outfits on show featuring images of Vietnamese cultural heritages.

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Vietnamese designers will open Thailand Fashion Week 2022. (Photo: VOV) 

Local designs, which will be showcased at the event draw inspiration from traditional art forms, including Chau Van, a type of ritual singing, Don Ca Tai Tu, a form of southern folk song, Quan Ho, a type of love duet singing, and water puppetry.

Furthermore, there will be also designs of evening gowns and suits on show, helping to introduce different culture of countries such as Thailand, the United States, France, Australia, Brazil, South Africa, Spain, and Vietnam, said the Voice of Vietnam.

A total of 16 local children have been chosen to model those designs and are expected to bring an impressive performance to the stage during the prestigious fashion event in Thailand.

Moving forward, Thailand Fashion Week 2022 is scheduled to get underway in Bangkok, Thailand, on June 30. It will showcase men's & women's collections for the Autumn/Winter season from 2022 to 2023 from both established and emerging brands worldwide ranging from Haute-Couture, Ready-To-Wear, Avant-Garde, Accessories, and Footwear.

Vietnam remains in FIFA top 100

The national men’s football team of Vietnam remains in FIFA's top 100, according to the Vietnam Football Federation.

The Golden Dragons are in the 97th spot in the FIFA ranking with 1,219 points, said the Vietnam News Agency.

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Vietnamese national football team is in the 97th spot in the FIFA ranking. (Photo: VNA)  

A 2-0 victory over Afghanistan in a friendly match held on June 1 has helped Vietnam gain 3.46 points. However, it was not enough for the team to advance in the rankings because its closest rivals such as Palestine and Kyrgyzstan had very good performances in the 2023 Asian Cup Third Qualifier.

Although Vietnam has dropped one spot compared to the previous ranking update, it is the only Southeast Asian team in the world’s top 100. Notably, maintaining the position since November 2018 is considered a very impressive record for the team.

Vietnam still leads Southeast Asia, followed by Thailand and the Philippines. In Asia, Vietnam ranks 17th.

Meanwhile, Thailand retained its ranking at the 111th position as it earned 3.01 points after defeating Maldives 3-0 and Sri Lanka 2-0 but lost to Uzbekistan 0-2 in the Asian Cup 2023 Qualifier.

The Philippines held the 134th position while Malaysia, Indonesia, Myanmar, Singapore, Cambodia, Laos, Brunei and Timor Leste ranked the 147th, 155th, 158th, 159th, 183rd, 190th and 199th, respectively.

Vietnam emerges as major agricultural supplier to UK following UKVFTA

Vietnam has emerged as a major Southeast Asian supplier of farm produce and aquaculture products to the UK following the UK-Vietnam Free Trade Agreement (UKVFTA) they signed, speakers said at a conference on June 23.

According to the Vietnam News Agency, speaking at “UK Market: Unlocking great potential by leveraging advantages of the UKVFTA”, Oliver Todd, British consul general in HCM City, said Vietnam can replace other countries such as India and Indonesia as a major supplier of agricultural and aquaculture products to his country.

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Photo for illustration (Source: MOIT) 

Todd, who is also director of the UK Trade and Investment in Vietnam, said Vietnamese exporters should be well prepared if they want to boost exports to the choosy market. It is important to learn about import demand and standards and requirements for exporting to the British market, he said.

Chris Milliken, vice president of the British Chamber of Commerce in Vietnam (BritCham), said there is ample scope to grow bilateral trade thanks to the trade deal.

“Vietnam and the UK are not competing against each other in any industry; they commercially complement each other.”

He pointed to the FTA as the leading pillar of the joint commitment to deepen bilateral trade, saying it was a mutual agreement to take bilateral trade to the next level.

The bilateral cooperation will include renewable energy, finance, education, high-tech, fintech, and others, he said.

The UK has in recent years focused on developing renewables such as wind and solar power as part of its efforts to adapt to climate change, he said.

He said Vietnam should develop renewable energy, an area in which the UK has strengths.

The UK recently developed an offshore wind project in the country, which will generate enough electricity for 1.6 million homes.

Major UK energy enterprises invest in solar power projects in Vietnam like the Shire Oak International Group, and solar power projects like Enterprize Energy and Mainstream Group.

He also spoke highly of the commitment by Vietnam to achieve net-zero emissions by 2050 to help mitigate climate change at the COP26 last year.


Photo for illustration (Source: kinhtedothi.vn) 

Truong Thi Chi Binh, vice president and general secretary of the Vietnam Association of Supporting Industry Enterprises, said the two countries have great opportunities for cooperation in many fields, especially supporting industries and renewable energy.

Vo Hong Kiet, customer service manager at the British Standards Institute (BSI Group), said Vietnam has the potential to become a major supplier of food and farm produce to the UK.

But Vietnamese exporters face challenges in finding partners and understanding the needs, quality standards and trade procedures in the UK, and also risks related to contracts and payments, he added.

Nguyen Manh Dat, deputy director of the Institute of Food Industry under the Ministry of Industry and Trade, said Vietnamese exporters should do thorough market research to ensure their products are of high quality and competitive in the market.

They must also ensure transparency for their products by developing websites and providing information about products, production lines, output, and trading partners.

Experts said the UK is the second largest economy in Europe with a free trade policy and large demand for agricultural imports.

Although the UKVFTA took effect at a tough time due largely to the COVID-19 pandemic, the two countries were able to achieve bilateral trade of 6.6 billion USD last year, up 17.2% from the previous year, according to figures from Vietnam Customs.

Vietnam’s exports to the UK were worth 5.8 billion USD in 2021, up over 16.4%, while the UK’s exports topped 849 million USD, up 23.6%.

In the first five months of this year, trade between the two countries reached 2.68 billion USD, equivalent to the same period last year’s figure.

As of May, 462 UK direct investment projects with a total registered capital of 4.15 billion USD were approved in Vietnam, accounting for 0.97% of the country’s total FDI.

They include 120 projects in the manufacturing and processing sectors with a total investment of nearly 1.6 billion USD, followed by 23 ones in real estate worth a total of 1.04 billion USD.

The signing of the UKVFTA took place in December 2020 in the British capital, London. It came into force on May 1, 2021.

The conference was organised by the Ministry of Industry and Trade, the British Embassy in Vietnam and the British Chamber of Commerce in Vietnam to help Vietnamese enterprises seeking to join the British supply chain./.

Compiled by BTA

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