DAILY: Vietnamese coffee prices increased by 600 VND on August 3
Thursday, August 3,2023AsemconnectVietnam - On Thursday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area rose by 600 VND to VND66,900 – VND67,900 per kg compared to Yesterday, according to Kinhtedothi.
Gia Nghia of Dak Nong provided the maximum price of VND67,900/kg, while traders in Lam Dong province offered the lowest price of VND66,900/kg. Robusta coffee rose to VND66,900/kg in Bao Loc, Di Linh, and Lam Ha; to VND67,600 – VND67,700 per kg in Dak Lak; to VND67,800 – VND67,900 per kg in Dak Nong; to VND67,400 per kg in Kon Tum, and to VND67,300 - VND67,400 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.
The United States Department of Agriculture (USDA) forecasts that Vietnam's coffee production in coffee year 2023-2024 will increase by 1.6 million bags (5%) to 31.3 million bags due to favorable weather.
To increase product quality and competitiveness for Robusta coffee in the market, the Central Highlands provinces focus on building growing areas and applying high technology to production.
According to the Sub-Department of Cultivation and Plant Protection of Dak Lak Province, the locality has more than 200,000 ha of coffee, with a total annual output estimated at about 460,000 tonnes. Currently, over 10% of the province’s coffee production area is concentrated in specialized farming areas managed by units of the Vietnam National Coffee Corporation, coffee companies in Dak Lak province, and enterprises. The rest, approximately 90%, is grown, cared for, and managed by the farmers themselves.
In recent years, people in Dak Lak have associated with cooperatives and enterprises producing sustainable coffee and specialty coffee, so the methods of care, harvesting, and preservation have also changed a lot. Especially, people have now changed their opinion of harvesting from green picking to picking fruit ripening 90–100% to ensure the quality required by the purchasing unit.
Farmers in Dak Lak are now also focusing on coffee farming according to standards such as 4C (Common Code for the Coffee Community), UTZ Certified, RFA (Rainforest Alliance), and FLO (Fair Trade). The locality’s total area of coffee grown according to the certified sustainable coffee production process reaches about 45,000 ha, accounting for over 22% of the province's coffee area.
In order to improve the quality of coffee comprehensively, every year the agricultural sector of Dak Lak province cooperates with local authorities to strengthen disseminating and mobilizing organizations and individuals to not harvest green coffee. In the case of a late harvest, the percentage of ripe fruit must reach at least 80% to ensure post-harvest quality.
Following are domestic Robusta coffee prices on August 3, in Vietnam's Central Highlands:
T.Huong
Source: Vitic/Kinhtedothi
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