DAILY: Vietnamese coffee prices decreased by 400 VND on July, 30 2024
Tuesday, July 30,2024AsemconnectVietnam - On Tuesday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area fell by 400 VND to 123,000–123,600 VND per kg compared to Yesterday, according to Kinhtedothi.
Gia Nghia of Dak Nong provided the maximum price of VND123,600/kg, while traders in Lam Dong province offered the lowest price of VND123,000. Robusta coffee fell to 123,000 VND per kg in Bao Loc, Di Linh, Lam Ha; to 123,300-123,400 VND per kg in Dak Lak; to 123,500-123,600 VND per kg in Dak Nong; to 123,300 VND per kg in Kon Tum, and to 123,300-123,400 VND per kg in Gia Lai.
Vietnamese coffee growers have been hit hard this year by the worst drought in nearly a decade, raising concerns of pricier espressos across the world, even as some farmers keep yields healthy with clever countermeasures.
The Mercantile Exchange of Vietnam (MVX) expects a 10-16% fall in output because of the extreme heat that hit the Central Highlands coffee region between March and early May, according to deputy head Nguyen Ngoc Quynh.
However, a return of rains in recent weeks has improved the outlook, boosting confidence among farmers and officials. But it remains unclear whether the improved weather will help boost output and drive down prices of robusta beans, the variety most commonly found in espressos and instant coffees, of which Vietnam is the world's top producer.
Following are domestic Robusta coffee prices on July 30, in Vietnam's Central Highlands:
T.Huong
Source: Vitic
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