DAILY: Vietnamese coffee prices remained unchanged on November 11, 2024
Monday, November 11,2024AsemconnectVietnam - On Monday, robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area, remained unchanged at 106,500 – 107,200 VND per kg compared to Yesterday, according to Kinhtedothi.
Gia Nghia of Dak Nong provided the maximum price of VND107,000/kg, while traders in Lam Dong province offered the lowest price of VND106,500/kg. Robusta coffee stayed at VND106,500 per kg in Bao Loc, Di Linh, Lam Ha; to VND106,900-107,000 per kg in Dak Lak; to VND107,100-107,200 per kg in Dak Nong; to VND107,000 per kg in Kon Tum, and at VND107,000 per kg in Gia Lai.
Vietnam’s coffee exports exceeded the 5 billion-USD mark for the first time in the 2023-2024 crop year, that lasted from October 1, 2023 to September 30, 2024.
An official of the Vietnam Coffee and Cocoa Association (VICOFA) said that, during the 2023-2024 crop year, Vietnam exported about 1.46 million tons of coffee, a 12% decrease compared to the previous crop year.
Despite the reduced volume, the export value soared by over 33%, reaching 5.43 billion USD, marking the highest level ever in a coffee season.
This was also the first time that Vietnam’s coffee exports in a single season surpassed the 5 billion USD, thanks to the hiked prices.
According to the General Department of Customs, in September alone, the average export price of Vietnamese coffee reached 5,469 USD per ton, the highest ever so far, up 5.8% from the previous month, and 68.7% compared to last September.
In the 2024-2025 crop, Vietnamese coffee prices is predicted to continue to stay high due to high demands in the domestic and international markets.
Although Vietnam is a major coffee exporter worldwide, the country primarily exports raw materials, which remain largely unknown among global consumers.
The global specialty coffee market has developed over the past three to four decades, while Vietnam’s has only started in the last decade.
According to coffee experts, Vietnam is developing both Arabica and Robusta specialty coffee, with a stronger emphasis on the latter, given that the country is the world leader in its production and export.
Additionally, due to the local natural conditions, practices, and experiences, Robusta products account for the lion’s share of Vietnam’s coffee production and consumption markets.
Following are domestic Robusta coffee prices on November 11, in Vietnam's Central Highlands:
T.Huong
Source: Vitic
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