DAILY: Vietnamese coffee prices rose by 1000 VND on August, 22 2024
Thursday, August 22,2024![](/weblocalfiles/huong/thang8nam2024/182024164150untitled_1_1200x676_4.jpg)
AsemconnectVietnam - On Thursday, robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area, rose by 1000 VND to 119,000–119,800 VND per kg compared to Yesterday, according to Kinhtedothi.
Gia Nghia of Dak Nong provided the maximum price of VND119,800/kg, while traders in Lam Dong province offered the lowest price of VND119,000/kg. Robusta coffee increased to 119,000VND per kg in Bao Loc, Di Linh, Lam Ha; to 119,600-119,700 VND per kg in Dak Lak; to 119,700-119,800 VND per kg in Dak Nong; to 119,600VND per kg in Kon Tum, and to 119,500-119,700VND per kg in Gia Lai.
According to data from the Brazilian State Center for Foreign Trade Statistics (Comex Stat), in the first 7 months of the year, Vietnam purchased a total of 17.428 tons of green coffee from Brazil, valued at 59 million USD, increased dramatically by 5,4 times in volume and nearly 5,3 times in value compared to the same period last year. This is also the largest volume of coffee that Vietnam has imported from Brazil to date, higher than the 12.609 tons of the entire 2021-2023 period combined. In July alone, Vietnam's imported coffee beans from Brazil reached 7 tons, doubling the previous month and increasing 6.762 times over the same period. This result puts Vietnam in the position of the 28th largest coffee importer from Brazil in the past month. Vietnam's coffee imports from Brazil increased sharply due to reduced domestic output and low inventories.
In the 2023-2024 crop year, Vietnam's coffee output is estimated to reach 1,47 million tons - the lowest level in 4 years, down 20% compared to the 2022-2023 crop year, according to statistics from the Ministry of Agriculture and Rural Development. Coffee output in the 2024-2025 crop year will likely still decrease due to unfavorable weather factors.
According to statistics from Mibrand, Vietnam currently has over 500,000 coffee shops, ranging from small neighborhood cafes to modern chains, generating 1.46 billion USD in revenue.
In addition to traditional street-style coffee shops, the market has seen the rise of more independent, branded cafes with impressive designs and high-quality drinks.
While major chains like Highlands Coffee, The Coffee House, and Starbucks dominate, many smaller brands are also rapidly expanding and gaining a foothold in key areas.
Vietnamese coffee is renowned for its bold flavor and unique brewing methods. One of the most popular varieties is cà phê sữa đá, a strong drip coffee served over ice with sweetened condensed milk.
The coffee culture in Vietnam is vibrant, with cafes on nearly every corner where people gather to enjoy coffee slowly, often paired with a conversation or simply watching the world go by.
Phuc Sinh Corp, a coffee and pepper producer and exporter of Vietnam with over 14 years of commitment to sustainable development, will receive a 25-million-USD loan from SAIL Investments’ Netherlands-based & Green Fund, for developing a sustainable coffee value chain without deforestation.
This is the fund's first investment in a Vietnamese enterprise, showing a positive signal for Vietnam's agriculture sector in attracting sustainable investments from international financial markets.
Following are domestic Robusta coffee prices on August 22, in Vietnam's Central Highlands:
District/City |
Purchase price (VND/kg) |
Vs. August 21 |
LAM DONG |
|
|
— Bao Loc ROBUSTA |
119,000 |
+1100 |
— Di Linh ROBUSTA |
119,000 |
+1100 |
— Lam Ha ROBUSTA |
119,000 |
+1100 |
DAK LAK |
|
|
— Cư M'gar ROBUSTA |
119,700 |
+1000 |
— Ea H'leo ROBUSTA |
119,600 |
+1000 |
— Buon Ho ROBUSTA |
119,600 |
+1000 |
GIA LAI |
|
|
— Chư Prong ROBUSTA |
119,700 |
+1000 |
— Pleiku ROBUSTA |
119,600 |
+1000 |
— La Grai ROBUSTA |
119,600 |
+1000 |
ĐAK NONG |
|
|
— Gia Nghia ROBUSTA |
119,800 |
+1000 |
— Đak R'lap ROBUSTA |
119,700 |
+1000 |
KON TUM |
|
|
— Đak Ha ROBUSTA |
119,600 |
+1000 |
T.Huong
Source: Vitic
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