AsemconnectVietnam - On Wednesday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area increased by 2200 VND to VND63,000 – VND63,800 per kg compared to Yesterday, according to Kinhtedothi.

Gia Nghia of Dak Nong provided the maximum price of VND63,800/kg, while traders in Lam Dong province offered the lowest price of VND63,000. Robusta coffee rose to VND63,000 in Bao Loc, Di Linh, and Lam Ha; to VND63,700 – VND63,800 per kg in Dak Lak; to VND63,700 – VND63,800 in Dak Nong; to VND63,600 per kg in Kon Tum, and to VND63,600 – VND63,700 per kg in Gia Lai.
Expert Nguyen Quang Binh said that coffee prices have skyrocketed in the past 2 days due to concerns about a sharp decline in new crop supply from Vietnam and low new crop coffee inventories due to strong exports from the beginning. year.
According to a report from USDA, Vietnam's coffee inventory at the end of the 2022/23 crop year is only 339,000 60kg bags, the second lowest level in the past 15 years. The reason is that coffee exports reached a record high of 1.78 million tons in the 2021/22 crop year, and the 2022/23 crop production decreased by 10-15% due to bad effects from the weather, causing coffee production to decrease by 10-15%. in the 2022/23 crop year, it is not enough to meet export orders.
Increased exports also caused reserves to decrease from 3.58 million bags to only 339,000 bags.
Local coffee shortages lead to many sad consequences for the entire industry. Typically, coffee prices in the last 4 months of the 2022/23 crop year increased, but Vietnamese farmers and export businesses did not benefit much because the supply only remained at foreign direct investment enterprises. Vietnam even has to increase imports to meet export orders despite being the world's largest Robusta supplier.
In the first 11 months of 2023, Vietnam's coffee exports reached nearly 1.4 million tons, worth more than 3.5 billion USD, down 13% in volume and 2.5% in value over the same period last year. Notably, the average export price of Vietnamese coffee in November 2023 reached 3,148 USD/tonne, up nearly 33% over the same period last year.
Following are domestic Robusta coffee prices on December 13, in Vietnam's Central Highlands: