DAILY: Vietnamese coffee prices remained unchanged on October 9
Monday, October 9,2023AsemconnectVietnam - On Monday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area remained unchanged at VND63,700 – VND64,200 per kg compared to Yesterday, according to Kinhtedothi.
Gia Nghia of Dak Nong provided the maximum price of VND64,200/kg, while traders in Lam Dong province offered the lowest price of VND63,700/kg. Robusta coffee stayed at VND63,700 in Bao Loc, Di Linh, and Lam Ha; at VND64,100– VND64,200 per kg in Dak Lak; at VND64,200 - VND64,300 in Dak Nong; at VND64,000 per kg in Kon Tum, and at VND64,000 - VND64,100 per kg in Gia Lai.
In the first 9 months of 2023, Vietnam's coffee exports were estimated to reach 1,266 million tonnes, worth of 3.16 billion USD, down by 7.3% in volume, but up by 1.9% in value over the same period last year. Vietnam's average coffee export price was estimated to reach 2,499 USD/tonne, up by 9.9% over the same period of 2022.
In the 11 months of the 2022 - 2023 crop year from October 2022 to August 2023, Vietnam exported more than 1.6 million tonnes of coffee, a decrease of 2% compared to the same period of the previous crop year.
The output in this crop is forecast to be only about 1.5 - 1.6 million tonnes, down 10 - 15% compared to the 2021-2022 crop. There is not much coffee for export now. The supply is expected to improve from November until the new harvest season 2023-2024.
However, low inventories pushed export coffee prices in August to a new record of 3,054 USD per tonne, up 8% over the previous month and up 30% compared to the same period last year.
Following are domestic Robusta coffee prices on October 9, in Vietnam's Central Highlands:
T.Huong
Source: Vitic/Kinhtedothi
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