El Salvador’s coffee industry has seen a remarkable export transaction with Thailand, which recently purchased a quintal of Salvadoran coffee for $3,939, according to the Salvadoran Coffee Institute (ISC). This sets a record for the country in the 2023-2024 harvest cycle, which runs from October 2023 to August 2024. Despite the significant reduction in export volumes, Thailand’s premium purchase stands out among other key export destinations.
The United States remains the largest importer, receiving 48% of Salvadoran coffee exports, totaling 224,344 quintals, valued at over $47.59 million at an average price of $212.16 per quintal. In comparison, Denmark imported nine quintals at an average price of $1,318.8, while the Czech Republic imported 20 quintals at an average price of $858.8.
Salvadoran coffee also found its way to less traditional markets, with Cuba importing 191 quintals at a price of $289.51 each, and Qatar purchasing 159 quintals at an average of $340 per quintal. Other notable destinations include Russia, which paid $334.01 per quintal for 58 quintals, and Honduras, a global coffee exporter, which paid $530.2 for 55 quintals.
In total, Salvadoran coffee exports for the 2023-2024 cycle amounted to 471,093 quintals, a 22.4% drop from the previous year’s exports of 607,509 quintals. The ISC attributed the decline to logistical challenges, which have delayed shipments, despite a significant price surge that saw coffee trading at its highest level in 13 years, surpassing $260 per quintal in September.
Despite the volume reduction, coffee exports generated $106.7 million in revenue for the Salvadoran economy, though this represents a 25.4% decrease compared to the $143.06 million earned during the same period in the previous harvest.