DAILY: Vietnamese coffee prices fell by 200 VND on July 14
Friday, July 14,2023AsemconnectVietnam - On Friday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area decreased by 200 VND to VND64,700 – VND65,400 per kg compared to Yesterday, according to Kinhtedothi.
Gia Nghia of Dak Nong provided the maximum price of VND65,100/kg, while traders in Lam Dong province offered the lowest price of VND64,600/kg. Robusta coffee fell to VND64,600/kg in Bao Loc, Di Linh, and Lam Ha; to VND65,000 – VND65,100 per kg in Dak Lak; to VND65,200 – VND65,300 per kg in Dak Nong; to VND64,900 per kg in Kon Tum, and to VND64,800 - VND64,900 per kg in Gia Lai.
Vietnam’s coffee exports in the first half of 2023 stood at one million metric tons, a fall of 3.1% from the same period of last year, customs data showed. Coffee export revenue for the period reached $2.4 billion, up 2.3% against the Jan-June period of 2022.
Vietnam’s production of robusta coffee likely shrank this year to the smallest in four years as farmers focused more on growing durians and their attention was drawn away by a local property boom.
The harvest fell more than 7% from the previous year to 1.67 million tons, according to the median estimate of exporters and traders in a Bloomberg survey. Crop expectations gradually declined as the harvest progressed.
The global market for robusta beans — the type used in instant drinks — has grown as roasters and consumers seek cheaper options to cope with high inflation. Prices have also been supported by worries about the impact of weather on some key crops. That’s driven futures for the variety up 36% this year in London to the highest level in more than a decade.
Following are domestic Robusta coffee prices on July 14, in Vietnam's Central Highlands:
T.Huong
Source: Vitic/Kinhtedothi
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