Friday, April 19,2024 - 19:26 GMT+7  Việt Nam EngLish 

DAILY: Vietnamese coffee prices fell by 200 VND on February 6 

 Tuesday, February 6,2024

AsemconnectVietnam - On Tuesday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area fell by 200 VND to VND77,500 – VND78,700 per kg compared to Yesterday, according to Kinhtedothi.

Gia Nghia of Dak Lac provided the maximum price of VND77,500 /kg, while traders in Lam Dong province offered the lowest price of VND78,700/kg. Robusta coffee stayed at VND77,700per kg  in Bao Loc, Di Linh, and Lam Ha;  at VND 78,200 per kg - VND78,300 per kg in Dak Lak; at VND78,600  – VND78,700   in Dak Nong; at VND78,100 per kg in Kon Tum, and at VND78,200  – VND78,100 per kg in Gia Lai.
 Farmers in major coffee exporter Vietnam are refusing to deliver coffee they have sold unless contracts are renegotiated following a surge in global prices to a 28-year high.
Vietnam is the world’s largest supplier of robusta coffee and the standoff is adding impetus to a rally in robusta prices with supplies in Europe becoming very tight.
The country had its poorest crop in six years in the 2022/23 season and some contracts were rolled forward into the 2023/24 season meaning a large crop was needed for farmers to fulfill all their commitments.
This season’s harvest was, however, also sub-par.
The poor crops drove prices much higher and farmers felt they could not afford to deliver at the agreed prices and have sought to renegotiate their contracts.
Traders who pay up are left short of supply of robusta, which is mainly used in instant coffee, espresso and blends of ground coffee.
A Vietnam-based trader said in December and January, there were still some deliveries of pre-sold coffee, but he expects these will fall sharply in the months ahead as he now cannot even get hold of suppliers who owe him this low-priced coffee .
Even though they have written contracts, global traders say it is not worthwhile for them to their local suppliers because of the expense involved.
Following are domestic Robusta coffee prices on February 6, in Vietnam's Central Highlands:
  
T.Huong 
Source: Vitic/Kinhtedothi

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