DAILY: Vietnamese coffee prices rose by 1000 VND on February 22, 2024
Thursday, February 22,2024AsemconnectVietnam - On Thursday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area rose by 1000 VND to VND81,900 – VND82,500 per kg compared to Yesterday, according to Kinhtedothi.
Gia Nghia of Dak Nong provided the maximum price of VND82,500/kg, while traders in Lam Dong province offered the lowest price of VND81,900 /kg. Robusta coffee rose to VND81,900 per kg in Bao Loc, Di Linh, and Lam Ha; to VND82,300 per kg - VND82,400 per kg in Dak Lak; to VND82,400 – VND 82,500 in Dak Nong; to VND 82,200 per kg in Kon Tum, and to VND 82,200 – VND82,300 per kg in Gia Lai.
The Central Highlands province of Dak Lak – Vietnam’s largest coffee-producing region - is striving to make its capital of Buon Ma Thuot a coffee city of the world with distinctive identities. The goal can be realised when Buon Ma Thuot focuses on developing high quality coffee, specialty coffee to gather attention from demanding international market. In addition to improving coffee quality and supply chain, Dak Lak province has held 5 consecutive Vietnam Amazing Cup competitions, aiming to attract coffee tasters and experts from around the world to recognize the distinct tastes of Vietnamese Central Highland specialty coffee varieties.
Vietnam is expected to earn $4.5-5 billion from exporting coffee this year due to the continuously rising coffee price, according to the Vietnam Coffee Cocoa Association (Vicofa).
Vicofa estimated that Vietnam’s 2023-2024 crop is likely to be down 10 per cent compared to the previous crop.
Meanwhile, the coffee output of two other major suppliers - Brazil and Indonesia - are also forecast to fall 6.2 per cent and 8 per cent, respectively, according to the US Department of Agriculture.
Vietnam earned over $621 million from exporting 210,000 tonnes of coffee in January, up 99.6 percent in value and 48 percent in volume year-on-year, the General Department of Vietnam Customs reports.
Following are domestic Robusta coffee prices on February 22, in Vietnam's Central Highlands:
T.Huong
Source: Vitic/Kinhtedothi
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