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DAILY: Vietnamese coffee prices decreased by 400 VND on October 23, 2024 

 Wednesday, October 23,2024

AsemconnectVietnam - On Wednesday, robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area, decreased by 400 VND to 110,700–111,300 VND per kg compared to Yesterday, according to Kinhtedothi.

Gia Nghia of Dak Nong provided the maximum price of VND111,300/kg, while traders in Lam Dong province offered the lowest price of VND110,700/kg. Robusta coffee fell to VND110,700 per kg in Bao Loc, Di Linh, Lam Ha; to VND111,000-111,100 per kg in Dak Lak; to  VND111,200-111,300 per kg in Dak Nong; to  VND111,100 per kg in Kon Tum, and at  VND111,000- 111,100 per kg in Gia Lai.
Son La is entering the 2024 coffee harvest. Currently, Son La province has over 21,000 hectares of coffee, mainly concentrated in Mai Son, Thuan Chau districts and Son La city with an estimated output of 35,000 - 45,000 tons of coffee beans/year, worth 4,500 - 5,000 billion VND. In the 2024 crop, due to the impact of the El Nino weather phenomenon, Son La's coffee output this year decreased, but the price was good. The demand for high-quality Arabica coffee and specialty coffee in the world market, especially in the EU, US and Japan, is currently very high, causing supply to not meet demand.
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. Chairman of the Vietnam Coffee and Cocoa Association (VICOFA) Nguyen Nam Hai said that during the 2023-2024 crop year, Vietnam exported about 1.46 million tonnes of coffee, a 12.1% decrease compared to the previous crop year.
According to the General Department of Customs, in September alone, the average export price of Vietnamese coffee reached 5,469 USD per tonne, the highest ever so far, up 5.8% from the previous month and 68.7% compared to September 2023.
For the entire 2023 - 2024 crop year, the average export price was 3,673 USD per tonne, nearly 50% higher than in the previous year. With such price, coffee is the export product with the strongest price rise among Vietnam’s major agricultural exports.
The European Union (EU) remained Vietnam’s largest coffee export market during the 2023-2024 crop year as it imported 563,000 tonnes worth 2 billion USD, down 8.6% in volume but up 41% in value.
Germany, Italy, and Spain were Vietnam's top three individual coffee export markets in the past season, with export values of 607 million USD, 417 million USD, and 413 million USD respectively, reflecting growth rates of 37%, 30%, and 75% compared to the 2022-2023 crop year. Other major markets also saw strong growth in export value despite declining volumes, such as Japan (up 38%) and Russia (up 20%).
Following are domestic Robusta coffee  prices on October 23, in Vietnam's Central Highlands:
District/City
Purchase price
(VND/kg)
Vs. October 22
LAM DONG
 
 
— Bao Loc ROBUSTA
110,700
-400
— Di Linh  ROBUSTA
110,700
-400
— Lam Ha  ROBUSTA
110,700
-400
DAK LAK
 
 
— Cư M'gar  ROBUSTA
111,100
-400
— Ea H'leo  ROBUSTA
111,100
-400
— Buon Ho  ROBUSTA
111,000
-400
GIA LAI
 
 
— Chư Prong  ROBUSTA
111,100
-400
— Pleiku  ROBUSTA
111,100
-400
— La Grai  ROBUSTA
111,000
-400
ĐAK NONG
 
 
— Gia Nghia  ROBUSTA
111,300
-400
— Đak R'lap  ROBUSTA
111,200
-400
KON TUM
 
 
— Đak Ha  ROBUSTA
111,100
-400
 
T.Huong
Source: Vitic

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