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DAILY: Vietnamese coffee prices increased by 1000 VND on May 28, 2024 

 Tuesday, May 28,2024

AsemconnectVietnam - On Tuesday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area increased by 1000 VND to VND115,500 – VND117,000 per kg compared to Yesterday, according to Kinhtedothi.

Gia Nghia of Dak Nong provided the maximum price of VND117,000/kg, while traders in Lam Dong province offered the lowest price of VND115,500. Robusta coffee rose to VND115,500 per kg in Bao Loc, Di Linh, and Lam Ha; to VND 116,500 per kg in Dak Lak; to VND116,900 - 117,000 in Dak Nong; to VND116,400 per kg in Kon Tum, and VND116,400- 116,500 per kg in Gia Lai.
The coffee market is forecast to continue to increase shortly and Robusta coffee prices will soon return to US$4,000 a tonne. Experts predict that by 2024, Vietnam's coffee exports could reach $5 billion because many factors are attributable to the achievement including a high increase in prices.
The world’s rising demand for some green coffee products for instant coffee is also pushing domestic demand.
Vietnam's General Department of Customs reported that Vietnam's April coffee exports fell by 19.5% month on month and by 7% year on year to 152,073 tonnes. Vietnam's coffee exports in the remaining months of the second quarter of 2024 are forecasted to increase due to rising global demand.
The coffee consumption market in Europe is fluctuating due to the imbalance of supply and demand from Vietnam after Robusta coffee production fell below the average level in the 2022/2023 coffee crop year, estimated at 28.5 million bags in the 2023/2024 crop year.
Vietnam's agriculture department projected that Vietnam's coffee production in the 2023/24 crop year would drop by 20% to 1.472 million tonnes, the smallest crop in four years, due to drought. Also, the Vietnam Coffee Association said that Vietnam's 2023/24 coffee exports would drop by 20% yearly to 1.336 million tonnes.
Following are domestic Robusta coffee prices on May 28, in Vietnam's Central Highlands:

District/City

Purchase price

(VND/kg)

Vs. May 27

LAM DONG

 

 

— Bao Loc ROBUSTA

115,500

   1000

— Di Linh  ROBUSTA

115,500

1000

— Lam Ha  ROBUSTA

115,500

1000

DAK LAK

 

 

— Cư M'gar  ROBUSTA

116,500

   1000

— Ea H'leo  ROBUSTA

116,500

1000

— Buon Ho  ROBUSTA

116,500

1000

GIA LAI

 

 

— Chư Prong  ROBUSTA

116,500

   1000

— Pleiku  ROBUSTA

116,400

1000

— La Grai  ROBUSTA

116,400

1000

ĐAK NONG

 

 

— Gia Nghia  ROBUSTA

117,000

1000

— Đak R'lap  ROBUSTA

116,900

1000

KON TUM

 

 

— Đak Ha  ROBUSTA

116,400

1000


T.Huong
Source: Vitic

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License: No 115/GP-TTĐT dated June 05, 2024 by the Ministry of Information and Communications.
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