AsemconnectVietnam - On Friday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area increased by 1000 VND to VND69,700 – VND70,500 per kg compared to Yesterday, according to Kinhtedothi.

Gia Nghia of Dak Nong provided the maximum price of VND70,500/kg, while traders in Lam Dong province offered the lowest price of VND69,700. Robusta coffee increased to VND69,700 in Bao Loc, Di Linh, and Lam Ha; to VND70,300 – VND70,400 per kg in Dak Lak; to VND70,400 – VND70,500 in Dak Nong; to VND70,300 per kg in Kon Tum, and to VND70,200 – VND70,300 per kg in Gia Lai.
Nestlé Vietnam on January 9,2024 announced an additional investment of $100 million in its Nestlé Tri An factory in the southern province of Dong Nai, bringing the factory’s total investment to over $500 million.
After a successful year in 2023, the production and export of products from industrial crops are forecast to face new challenges in 2024, requiring flexible response of each industry from the stage of production to processing and market development.
Last year, the export revenue of agricultural products hit USD 25 billion, with great contributions from industrial plants such as coffee, cashew, peppercorn, tea and rubber. Two products with export turnover of over USD 3 billion were coffee (USD 4.18 billion) and cashew nuts (USD 3.63 billion).
According to the Agency of Foreign Trade under the Ministry of Industry and Trade, in 2023, Vietnam benefited from a price hike of Robusta coffee. The country shipped abroad 1.61 million tons of coffee, with an average price of USD 2,834 a ton, up 14.1 percent year on year.
In 2024, the coffee sector is forecast to continue to benefit from the high price of Robusta coffee, which is predicted to hit a new record due to concerns about a supply shortage.The additional investment will double the factory's capacity to meet the growing coffee demand, making Vietnam a high-value coffee production and supply center for the global and local markets.
Currently, coffee products produced at the Nestlé Tri An factory have been exported to more than 29 countries around the world. In addition, Nestlé is also the largest buyer of Vietnamese coffee, spending up to $700 million annually.
The project is a testament to Nestlé's commitment to long-term investment in Vietnam, said Binu Jacob, CEO of Nestlé Vietnam. When fully operational, the factory’s capacity will double to meet domestic consumption and exports, turning Vietnam into a supplier of high-value coffee for the world, he noted.
The project is expected to create more jobs and expand long-term investment activities in Vietnam, thereby contributing to the sustainable and thriving economic growth of the country, he added.
Following are domestic Robusta coffee prices on January 12, in Vietnam's Central Highlands:

 
T.Huong
Source: Vitic/Kinhtedothi