DAILY: Vietnamese coffee prices fell by 500 VND on August 21
Monday, August 21,2023AsemconnectVietnam - On Monday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area fell by 500 VND to VND63,600 – VND64,400 per kg compared to Yesterday, according to Kinhtedothi.
Gia Nghia of Dak Nong provided the maximum price of VND64,400/kg, while traders in Lam Dong province offered the lowest price of VND63,600/kg. Robusta coffee fell to VND63,600/kg in Bao Loc, Di Linh, and Lam Ha; to VND 64,300 – VND 64,200 per kg in Dak Lak; to VND64,300- VND 64,400 in Dak Nong; to VND63,600 per kg in Kon Tum, and to VND63,600 - VND63,700 per kg in Gia Lai.
The coffee industry should step up the digitalization of the value chain to get ready for the European Union (EU)’s Deforestation Regulation (EUDR) to maintain and expand exports to this bloc, according to the Việt Nam Trade Office in Belgium.
The coffee industry should step up the digitalization of the value chain to get ready for the European Union (EU)’s Deforestation Regulation (EUDR) to maintain and expand exports to this bloc, according to the Việt Nam Trade Office in Belgium.
The trade office said that the law passed by the European Parliament on May 16 and taking effect from December 30, 2024, required companies to demonstrate their products weren’t sourced from deforested land or land with forest degradation.
The law targets cattle, cocoa, coffee, palm oil, rubber, soy, and wood as well as commodities fed by or made using these products such as leather, chocolate, printed paper, and furniture.
As a major coffee exporter to the EU, Việt Nam should get prepared for the law to maintain and expand coffee exports to the bloc, raising the pressing need for digitalization of the value chain.
The trade office said that enterprises would have more than one year left to comply with the law. For companies of micro and small sizes, the time was longer.
For the coffee industry, exporters must ensure that the products weren’t sourced from deforested land or land with forest degradation to be eligible for entering the EU market.
The integration of digital technology was critical to meeting the regulations on deforestation–free products, the trade office stressed.
An important target of the law was to increase the origin traceability, which said that it is the responsibility of the operators (or traders that are not SMEs) to collect the geolocation coordinates of the plots of land where the commodities were produced.
Following are domestic Robusta coffee prices on August 21, in Vietnam's Central Highlands:
T.Huong
Source: Vitic/Kinhtedothi
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