Thursday, May 30,2024 - 5:11 GMT+7  Việt Nam EngLish 

DAILY: Vietnamese coffee prices rose by 100 VND on February 16 

 Friday, February 16,2024

AsemconnectVietnam - On Friday, robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area rose by 100 VND to VND77,200 – VND78,300 per kg compared to Yesterday, according to Kinhtedothi.

Gia Nghia of Dak Nong provided the maximum price of VND78,300/kg, while traders in Lam Dong province offered the lowest price of VND77,200/kg. Robusta coffee rose to VND77,200 per kg in Bao Loc, Di Linh, and Lam Ha; to VND 77,900 per kg - VND78,000 per kg in Dak Lak; to VND78,200 – VND78,300 in Dak Nong; to VND77,900 per kg in Kon Tum, and to VND77,800 – VND77,900 per kg in Gia Lai.
A surge in domestic coffee prices was attributed to the fact that traders actively purchased coffee before the Lunar New Year (Tet) holiday while exporters were afraid of supply shortages like last year so they tended to buy more.
Vietnam shipped 230,000 tonnes of coffee abroad in January, earning 623 million USD, up 61.6% in volume and 100.3% in value year-on-year, according to the Ministry of Agriculture and Rural Development. The coffee output of the 2023-2034 crop in Dak Lak province is forecast to reach 580,000 tonnes, thus the coffee export volume is estimated at 330,000 tonnes. If prices stay as high as they are now and fluctuate slightly in the near future, the province's coffee export turnover could hit 900 million USD.
Lam Dong province has about 175,700 ha of coffee and the output for 2023-2024 crop is expected to hit 535,000 tonnes.
In 2023, Vietnam exported over 1.6 million tonnes, down 8.7% in quantity but up 4.6% in value compared to last year, reaching a record turnover of 4.24 billion USD.
According to the Vietnam Coffee-Cocoa Association (Vicofa), Vietnam’s coffee production in the 2023-2024 crop will be 1.6-1.7 million tonnes, lower than 1.78 million tonnes in 2022-2023.
Following are domestic Robusta coffee prices on February 16, in Vietnam's Central Highlands:

T.Huong
Source:
 Vitic/Kinhtedothi

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