AsemconnectVietnam - On Friday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area increased by 1000 VND to VND114,000 – VND115,500 per kg compared to Yesterday due to recent dry and hot weather in key growing areas, many pepper plants died, according to Kinhtedothi.

ia Nghia of Dak Nong provided the maximum price of VND114,500/kg, while traders in Lam Dong province offered the lowest price of VND114,000. Robusta coffee rose to VND114,000 per kg in Bao Loc, Di Linh, and Lam Ha; to VND 115,000 per kg in Dak Lak; to VND114,500- VND114,600 in Dak Nong; to VND114,000 per kg in Kon Tum, and VND114,900 per kg- VND115,000 in Gia Lai.
Vietnam's coffee exports in the remaining months of the second quarter of 2024 are forecasted to increase due to rising global demand.
The coffee consumption market in Europe is currently fluctuating due to the imbalance of supply and demand from Vietnam after Robusta coffee production fell below the average level in the 2022/2023 coffee crop year, estimated at 28.5 million bags in the 2023/2024 crop year.
Additionally, the world relies heavily on high-quality coffee from Brazil annually, so unfavourable weather conditions may cause further fluctuations in the coffee market in the short and medium term.
In the global market, it is projected that coffee prices will remain high in the remaining months of the second quarter of 2024.
The Vietnam Coffee and Cocoa Association has set an ambitious goal of doubling coffee export turnover to US$5-6 billion by 2030. To achieve this, they aim to increase the proportion of processed coffee products from less than 10% to around 25% or more.
The global coffee market is also affected by inflated prices and disrupted distribution due to the COVID-19 pandemic. As the industry seeks to scale up coffee processing, attracting investors is essential for sustainable development.
Following are domestic Robusta coffee prices on May 24, in Vietnam's Central Highlands: