Saturday, April 27,2024 - 17:32 GMT+7  Việt Nam EngLish 

DAILY: Vietnamese coffee prices decreased by 200 VND on May 5 

 Friday, May 5,2023

AsemconnectVietnam - On Friday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area fell by 200 VND to VND51,600 – VND52,400 per kg compared to Yesterday, according to Kinhtedothi.com.

Cư M'gar of Dak Lak provided the maximum price of VND52,400/kg, while traders in Lam Dong province offered the lowest price of VND51,600/kg. Robusta coffee fell to VND51,600 per kg in Bao Loc, Di Linh, and Lam Ha; to VND52,300- 52,400 per kg in Dak Lak; to VND52,200-52,300 per kg in Dak Nong; to VND52,300 per kg in Kon Tum, and to VND52,100-52,200 per kg in Gia Lai.

According to the Vietnam Commodity News Center, after a record export in 2022, Vietnam's coffee inventories are gradually shrinking. Coffee production in 2022 is estimated to drop sharply by 10-15% compared to the original forecast due to heavy rain occurring at the right time of harvest, which has led to tight supply and an inevitable price increase cycle.
According to the Ministry of Agriculture and Rural Development, in the first 4 months of 2023, coffee export value reached 1.7 billion USD; increased by 2.5%. Broker and analyst HedgePoint Global Markets expects Vietnam's coffee planting area in the 2023/24 crop year to decrease by 7% due to reduced investment, and Vietnam's new crop to reach 27.7 million bags.
The tight supply while the high demand after the holiday caused many traders to buy goods at high prices to deliver the signed contracts, pushing up the domestic price of green coffee yesterday.
The coffee industry of Vietnam is working to increase the value of raw coffee exports as low added value still makes up the majority of the product that is shipped overseas.
Vietnam is home to more than 710,000ha of coffee plants, generating 2.8 tonnes of beans per ha and over 1.84 million tonnes in total. The certified area in the Central Highlands, the coffee cultivation centre of the country, topped 184,000ha in 2022, accounting for 28.2% of the region’s total coffee area.
In 2022, Vietnam exported 1.78 million tonnes of coffee worth over 4.06 billion USD, the highest in more than a decade.
However, as raw coffee makes up the majority of export, this commodity’s added value remains modest.
To sustainably develop and raise the value of the coffee industry, the Ministry of Agriculture and Rural Development (MARD) has issued many plans and projects. Among them, a programme on coffee recultivation in the Central Highlands during the 2014 - 2020 period has proved effective as hundreds of thousands of hectares of coffee has been regrown to boost both productivity and quality and, subsequently, farmers’ income.
Another important measure is to form production chains, from developing material supplying zones, purchasing input materials, transferring production techniques, to signing sale contracts.
Aside from new cultivation measures, investment in intensive processing, market expansion, and brand protection are necessary to increase the value of Vietnamese coffee, according to insiders.
The coffee sector is also striving to apply international standards and align national standards accordingly, which is considered a focal task amid intensive economic integration into the world.
Not only foreign businesses but major domestic firms like Vinacafe, An Thai, G7, and Vinh Hiep have also equipped themselves with moden processing technology to produce high-quality products serving domestic consumption and exports.
Following are domestic Robusta coffee prices on May 5, in Vietnam's Central Highlands:

District/City

Purchase price

(VND/kg)

Vs, May 4

LAM DONG

 

 

— Bao Loc ROBUSTA

51,600

-200

— Di Linh  ROBUSTA

51,600

-200

— Lam Ha  ROBUSTA

51,600

-200

DAK LAK

 

 

— Cư M'gar  ROBUSTA

52,200

-200

— Ea H'leo  ROBUSTA

52,100

-200

— Buon Ho  ROBUSTA

52,100

-200

GIA LAI

 

 

— Pleiku  ROBUSTA

52,100

-200

— Ia Grai  ROBUSTA

52,100

-200

— Chư Prong  ROBUSTA

52,200

-200

ĐAK NONG

 

 

— Đak R'lap  ROBUSTA

52,200

-200

— Gia Nghia  ROBUSTA

52,300

-200

KON TUM

 

 

— Đak Ha  ROBUSTA

52,300

-200


T.Huong
Source: Vitic/Kinhtedothi

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