Monday, April 15,2024 - 7:44 GMT+7  Việt Nam EngLish 

DAILY: Vietnamese coffee prices rose by 1000 VND on February 20 

 Tuesday, February 20,2024

AsemconnectVietnam - On Tuesday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area rose by 1000 VND to VND81,300 – VND82,100 per kg compared to Yesterday due to traders actively purchased coffee before the Lunar New Year (Tet) holiday while exporters were afraid of supply shortages like last year so they tended to buy more, according to Kinhtedothi.

Gia Nghia of Dak Nong provided the maximum price of VND82,100/kg, while traders in Lam Dong province offered the lowest price of VND81,300/kg. Robusta coffee rose to VND81,300 per kg in Bao Loc, Di Linh, and Lam Ha; to VND 81,900 per kg - VND82,000 per kg in Dak Lak; to VND82,000 – VND82,100 in Dak Nong; to VND81,800 per kg in Kon Tum, and to VND81,800 – VND81,900 per kg in Gia Lai.
Vietnam shipped 230,000 tonnes of coffee abroad in January, earning 623 million USD, up 61.6% in volume and 100.3% in value year-on-year, according to the Ministry of Agriculture and Rural Development.
The coffee output of the 2023-2024 crop in Dak Lak province is forecast to reach 580,000 tonnes, thus the coffee export volume is estimated at 330,000 tonnes. If prices stay as high as they are now and fluctuate slightly in the near future, the province's coffee export turnover could hit 900 million USD.
Lam Dong province has about 175,700 ha of coffee and the output for 2023-2024 crop is expected to hit 535,000 tonnes.
According to the Vietnam Coffee-Cocoa Association (Vicofa), Vietnam’s coffee production in the 2023-2024 crop will be 1.6-1.7 million tonnes, lower than 1.78 million tonnes in 2022-2023.
In the 2022/23 period, the Arabica coffee production volume in Vietnam amounted to approximately 900 thousand 60-kilogram bags. The volume of Arabica coffee produced in Vietnam fluctuated slightly throughout the years. Although Vietnam is among the leading coffee-producing countries, most of the country's production output has been Robusta coffee.
While relatively new to the international coffee trade, Vietnam has quickly become one of the largest producers. In the 1980s, Vietnam bet big on coffee development and output increased by 20% to 30% each year throughout the 1990s, boosting the country’s economic development. Vietnam is expected to produce 27.5 million 60 kg bags of coffee in 2023-2024, according to USDA.
Vietnam has also now found a foothold in the international market by focusing primarily on the more affordable Robusta coffee. Robusta beans can have up to twice as much caffeine as Arabica beans, making the coffee taste more bitter. Vietnam is also the world’s No. 1 Robusta coffee producer, accounting for 35% of global production in 2023–2024.
Coffee grown in Vietnam also has high yields. The country’s coffee output is significantly higher than that of other leading coffee-producing countries.
Following are domestic Robusta coffee prices on February 20, in Vietnam's Central Highlands:

T.Huong
Source:
 Vitic/Kinhtedothi

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