AsemconnectVietnam - On Thursday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area increased by 700 VND to VND60.500 - 61.100 per kg compared to Yesterday due to a lack of domestic supply, according to Kinhtedothi.com.

In the past month, the price of coffee has continuously increased vertically, reaching the threshold of 61,000 VND/kg in the Central Highlands provinces, this is the highest coffee price in the past 15 years.
Cư M'gar of Dak Lak provided the maximum price of VND61.000/kg, while traders in Lam Dong province offered the lowest price of VND60.500/kg. Robusta coffee increased to VND60.500 per kg in Bao Loc, Di Linh, and Lam Ha; to VND60.900– VND61.000 per kg in Dak Lak; to VND60.900 – VND 61.000 per kg in Dak Nong; to VND60.800 per kg in Kon Tum, and to VND60.700 - VND60.800 per kg in Gia Lai.
Statistics from the Vietnam General Department of Customs showed that Vietnam’s coffee export totalled more than 634,000 tonnes from the beginning of this year to April 15, lower than the result of 663,816 tonnes of the same period last year.
According to the Department of Industry and Trade of Dak Lak province and coffee exporters, the market has been strongly influenced by the law of supply - demand.
Vietnam is leading the world in Robusta coffee production. However, while the demand for this kind of coffee has increased in recent years, Vietnam's output is decreasing by about 10-15%, causing a shortage of supply.
In addition, the current inflation has pushed up the prices of raw materials and fuels, especially agricultural materials, by two-three times, resulting in a rise in coffee production and processing costs, and selling prices.
The Department of Industry and Trade of Dak Lak province said that in the first four months of 2023, the locality exported about 165,000 tonnes of coffee beans, equal to that of the same period of the previous years. The high coffee price leads to an increase in the export turnover. However, local farmers and businesses have yet to benefit much from the growth.
Deputy Director of the provincial Department of Industry and Trade Huynh Ngoc Duong said that local coffee enterprises are still weak in terms of capital, human resources, while their capacity to participate in large markets remains limited and linkages between them are not high.
In the coming time, the industry and trade sector will move to help solve limitations facing businesses. In addition, the province will continue to encourage product diversification and deep processing, create conditions for businesses to access loans, and focus on improving the role of relevant associations.
Following are domestic Robusta coffee prices on May 25, in Vietnam's Central Highlands: