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DAILY: Vietnamese coffee prices increased by 2000 VND on June,7 2024 

 Friday, June 7,2024

AsemconnectVietnam - On Wednesday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area increased by 2000 VND to 124,000 –125,500 VND per kg compared to Yesterday, according to Kinhtedothi.

Gia Nghia of Dak Nong provided the maximum price of VND125,500/kg, while traders in Lam Dong province offered the lowest price of VND124,000. Robusta coffee rose to 124,000 VND per kg in Bao Loc, Di Linh, and Lam Ha; to 124,900 - 125,000 VND per kg in Dak Lak; to 125,400 - 125,500 VND per kg in Dak Nong; to 125,000 VND per kg in Kon Tum, and 124,900-125,000 VND per kg in Gia Lai.
According to the Mercantile Exchange of Vietnam, concerns about falling output for major coffee exporters, including Brazil and Vietnam, will continue to boost coffee prices. Vicofa expected coffee prices to remain at high levels in June.The agriculture ministry, however, urged farmers not to ramp up coffee planting without following plans. Coffee is one of seven products that fall within the scope of the European Deforestation Regulation, which will take effect by the end of this year. Under the new rules, coffee that cannot be proven to not be linked to deforestation after December 31 will not be allowed to enter the EU.
Coffee exports are expected to reach an estimated 2.9 billion USD in the first five months of this year, representing a rise of 43.9% over the same period last year on rising prices despite a drop of 3.9% in volume to 833,000 tonnes, according to the Ministry of Agriculture and Rural Development.
Coffee export prices averaged 4,208 USD per tonne in May, 11.7% higher than April and 63.6% higher than May 2023. Prices averaged 3,428 USD per tonne from January through May, up 49.9% over the same period last year.
Despite impressive export value growth, Vietnam’s coffee industry is facing a drop in output for export due to prolonged heat and drought.
Since the beginning of the crop season in October 2023, Vietnam has exported more than 1.2 million tonnes of coffee, meaning that inventory is low while prices remain high.
The Vietnam Coffee Association (Vicofa) predicted that Vietnam’s coffee exports might fall by 20% in the 2023-24 crop season to 1.336 million tonnes.
The Foreign Agriculture Service (FAS) under the US Department of Agriculture, however, forecast Vietnam’s robusta coffee output to see a slight decrease from 28 million bags to 27.9 million bags, or 1.68 million tonnes.
Following are domestic Robusta coffee prices on June 7, in Vietnam's Central Highlands:

District/City

Purchase price

(VND/kg)

Vs. June 6

LAM DONG

 

 

— Bao Loc ROBUSTA

124,000

2000

— Di Linh  ROBUSTA

124,000

2000

— Lam Ha  ROBUSTA

124,000

2000

DAK LAK

 

 

— Cư M'gar  ROBUSTA

125,000

2000

— Ea H'leo  ROBUSTA

124,900

2000

— Buon Ho  ROBUSTA

124,900

2000

GIA LAI

 

 

— Chư Prong  ROBUSTA

125,000

2000

— Pleiku  ROBUSTA

124,900

2000

— La Grai  ROBUSTA

124,900

2000

ĐAK NONG

 

 

— Gia Nghia  ROBUSTA

125,500

2000

— Đak R'lap  ROBUSTA

125,400

2000

KON TUM

 

 

— Đak Ha  ROBUSTA

125,000

2000


T.Huong
Source: Vitic


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