DAILY: Vietnamese coffee prices fell by 200 VND on November 24Friday, November 24,2023
AsemconnectVietnam - On Friday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area fell by 200 VND to VND57,000 – VND57,700 per kg compared to Yesterday, according to Kinhtedothi.
Gia Nghia of Dak Nong provided the maximum price of VND57,700/kg, while traders in Lam Dong province offered the lowest price of VND57,000. Robusta coffee decreased to VND57,000 in Bao Loc, Di Linh, and Lam Ha; to VND57,600 – VND57,700 per kg in Dak Lak; to VND57,300 – VND58,400 in Dak Nong; to VND57,400 per kg in Kon Tum, and to VND57,300 – VND57,400 per kg in Gia Lai.
Despite a high export revenue recorded so far this year, the coffee sector is advised to enhance the quality and competitiveness of their products to better conquer the world market.
Statistics from the General Department of Vietnam Customs showed that in the first 11 months of this year, Vietnam exported 1.36 million tonnes of coffee for 3.5 billion USD, up 3.4% year on year.
However, the export volume is decreasing in the recent two months, mostly due to low inventories.
Vietnam has the sixth largest coffee farming area in the world but the second biggest output thanks to high yields. However, the supply is dropping although Vietnam is entering a new harvesting season, leading to a hike in prices.
Do Ha Nam, Vice Chairman of the Vietnam Coffee-Cocoa Association (Vicofa), said that the coffee price will further increase if farmers pay greater attention to enhancing the quality of material coffee. He advised farmers to concentrate on the harvesting stage and ensure the traceability of their products to meet export requirements, especially in the European market, the largest market of Vietnamese coffee.
Nam noted that among the 720,000 hectares of coffee across the country, only 185,000 hectares have received sustainable production certificates of different kinds, accounting for only a small part of the total area.
Following are domestic Robusta coffee prices on November 24, in Vietnam's Central Highlands:
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