Gia Nghia of Dak Nong provided the maximum price of VND67,300/kg, while traders in Lam Dong province offered the lowest price of VND66,400/kg. Robusta coffee rose to VND66,400/kg in Bao Loc, Di Linh, and Lam Ha;  to  VND67,000  – VND67,100 per kg in Dak Lak; to VND67,200 – VND67,300 per kg in Dak Nong; to VND66,900 per kg in Kon Tum, and to VND66,800 - VND66,900  per kg in Gia Lai.
 

The General Statistics Office of Vietnam reported that coffee exports in July were estimated at 80,000 tonnes (about 1.33 million bags), down 32.1% month-on-month and down 6% year-on-year. This has led the consumer markets to worry about supply shortages, while the world's demand for Robusta coffee is increasing day by day. Meanwhile, a stronger real has slowed Brazilian coffee sales.

 

Despite receiving many expectations, coffee exports of Vietnamese producers in the third quarter are likely to slow down because the supply has been exhausted.

Experts forecast that the volume of exports from now until the end of the year may decrease by about 50% over the same period last year as inventories are gradually depleted, mainly in the hands of FDI exporters.

 

In the long term, for Vietnam to maintain its position as a coffee powerhouse, the output needs to be maintained at 1.8 million tons. In the past 3 years, the coffee area has been continuously shrunk due to being replaced by other fruit trees, plus the negative impact of climate change, causing coffee trees to lose crops, and the output will decrease even more.

 

Recently, the US Department of Agriculture (USDA) forecast that Vietnam's coffee production in the 2023-2024 crop year will increase by 1.6 million bags (5%) to 31.3 million bags due to favorable weather. The production area is expected to remain unchanged with nearly 95% of total production still being robusta coffee.

 

Rainfall is forecast 10-20% above average, supporting irrigation as well as coffee tree growth. People also gradually replanted coffee trees to increase production.

 

However, Vietnam's green coffee exports are expected to decline by 1.5 million bags to 24.5 million bags based on low opening stocks and stricter import regulations by the European Union.

 

USDA forecasts that Vietnam's ending stocks of the 2023-2024 season will increase by 1 million bags compared to the previous season to 2.7 million bags.