DAILY: Vietnamese coffee prices rose by 900 VND on June 26

Trade News

DAILY: Vietnamese coffee prices rose by 900 VND on June 26

Monday, June 26,2023

AsemconnectVietnam - On Monday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area rose by 900 VND to VND65,500 – 66,200 per kg compared to Yesterday, according to Kinhtedothi.

Gia Nghia of Dak Nong provided the maximum price of VND66,200/kg, while traders in Lam Dong province offered the lowest price of VND65,500/kg. Robusta coffee rose to VND65,500 per kg in Bao Loc, Di Linh, and Lam Ha; to VND 65,800 – VND65,900 per kg in Dak Lak; to VND66,200 – VND66,100 per kg in Dak Nong; to VND65,700 per kg in Kon Tum, and to VND65,600 - VND65,700 per kg in Gia Lai.

The General Department of Vietnam Customs reported preliminary data showing that robusta coffee exports in the first half of June reached 68,744 tonnes (about 1.145 million bags), bringing coffee exports in the first six months to a total of 934,863 tonnes(about 15.58 million bags), down 1.36% over the same period last year.

In the first 5 months of 2023, Vietnam exported 866,121 tonnes of coffee, 3.9% lower than the same period last year. In particular, in May 2023, the export volume of coffee was only recorded at 149,667 tonnes, down 8.5% from the previous month and the second-lowest monthly export level since the beginning of the year.

Coffee production in the year 2022/23 is estimated to decrease by 10-15%, according to the Vietnam Coffee Association (Vicofa). For a coffee-producing power like Vietnam, the loss of 10-15% of output is huge, which will affect the supply-demand as well as the global coffee price.

Thanks to a trend of hiking in coffee prices, experts have predicted that this year’s coffee export revenue may exceed last year’s record of 4 billion USD.

The average price of exported coffee during January-May was nearly 2,300 USD per ton, up 2.4% over the same period last year. This means coffee export revenue will be high in the rest of the year.

In the Central Highlands region, the major coffee production hub of Vietnam, coffee prices saw a strong rise last week and hit a record in three months.

The rise in coffee prices was attributed to a shortage in supply as a result of extreme weather conditions. In 2023, coffee output is predicted to fall 10-15%, while demands for the product is still high.

Under a project developed by the Ministry of Agriculture and Rural Development, the area of specialty coffee in Vietnam is expected to account for 2% of the total, with an output of 5,000 tons by 2025. The figures are hoped to increase to 3% and 11,000 tons, respectively, in 2030.

Following are domestic Robusta coffee prices on June 26, in Vietnam's Central Highlands:

District/City	Purchase price (VND/kg)	Vs, June 25
LAM DONG
— Bao Loc ROBUSTA	65,500	+900
— Di Linh ROBUSTA	65,500	+900
— Lam Ha ROBUSTA	65,500	+900
DAK LAK
— Cư M'gar ROBUSTA	65,900	+900
— Ea H'leo ROBUSTA	65,800	+900
— Buon Ho ROBUSTA	65,800	+900
GIA LAI
— Chư Prong ROBUSTA	65,700	+900
— Pleiku ROBUSTA	65,600	+900
— La Grai ROBUSTA	65,600	+900
ĐAK NONG
— Gia Nghia ROBUSTA	66,200	+900
— Đak R'lap ROBUSTA	66,100	+900
KON TUM
— Đak Ha ROBUSTA	65,700	+900

T.Huong
Source: Vitic/Kinhtedothi

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