DAILY: Vietnamese coffee prices increased by 3000 VND on June,4 2024
Wednesday, June 5,2024AsemconnectVietnam - On Tuesday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area increased by 3000 VND to 122,000 –123,300 VND per kg compared to Yesterday, according to Kinhtedothi.
Due to the impact of climate change, the dry season comes earlier than usual in Vietnam, and prolonged hot weather causes water levels at dams in some provinces to rapidly decrease. Fears that drought could affect crops have caused domestic coffee prices to increase sharply in the past week.
However, favourable weather conditions in the Central Highlands and exchange rate fluctuations have restrained the strong recovery of coffee prices.
Gia Nghia of Dak Nong provided the maximum price of VND123,300/kg, while traders in Lam Dong province offered the lowest price of VND122,000. Robusta coffee rose to VND122,000 per kg in Bao Loc, Di Linh, and Lam Ha; to VND 122,900 - 123,000 per kg in Dak Lak; to VND123,200 - 123,300 in Dak Nong; to VND123,000 per kg in Kon Tum, and VND123,000 per kg in Gia Lai.
The Ministry of Agriculture and Rural Development said that Vietnam’s coffee output in the 2023–2024 crop year is estimated to decrease by 20% compared to the previous crop year, to 1.47 million tonnes, the lowest in four years, putting pressure on Robusta supply in the world market.
According to the Ministry of Agriculture and Rural Development, Vietnam exported 756,000 tonnes of coffee, earning nearly 2.57 billion USD in the first four months of the year, up 5.4% in volume and 57.9% in value from the same period last year.
Of which, Vietnam exported 10,740 tonnes of coffee to Spain in April, earning 42.66 million USD, year-on-year rises of 18.7% in volume and 102.8% in value, according to the Agency of Foreign Trade under the Ministry of Industry and Trade.
Shipments from Vietnam to Spain in the first four months of this year reached approximately 55,380 tonnes, valued at 193.1 million USD, representing increases of 53.7% in volume and 136.6% in value compared to the same period last year.
The average export price of Vietnamese coffee to the Spanish market was 3,487 USD per tonne in the first four months, up 53.9% over the same period last year, the agency said, adding that it stood at 3,971 USD per tonne in April, up 9.1% month-on-month and 70.8% year-on-year.
Favourable weather conditions in the Central Highlands and exchange rate fluctuations have restrained the strong recovery of coffee prices.
Following are domestic Robusta coffee prices on June 4, in Vietnam's Central Highlands:
T.Huong
Source: Vitic
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