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DAILY: Vietnamese coffee prices increased by 3000 VND on May 29, 2024 

 Wednesday, May 29,2024

AsemconnectVietnam - On Wednesday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area increased by 3000 VND to VND118,500 – VND120,000 per kg compared to Yesterday, according to Kinhtedothi.

Gia Nghia of Dak Nong provided the maximum price of VND120,000/kg, while traders in Lam Dong province offered the lowest price of VND118,500. Robusta coffee rose to VND118,500 per kg in Bao Loc, Di Linh, and Lam Ha; to VND 119,400 - 119,500 per kg in Dak Lak; to VND119,900 - 120,000 in Dak Nong; to VND119,400 per kg in Kon Tum, and VND119,400- 119,500 per kg in Gia Lai.
Last Wednesday, coffee trader Volcafe said Vietnam's 2024/25 robusta coffee crop may only be 24 million bags, the lowest in 13 years, as poor rainfall in Vietnam has caused "irreversible damage" to coffee blossoms. Volcafe also projects a global robusta deficit of 4.6 million bags in 2024/25, a smaller deficit than the 9-million-bag deficit seen in 2023/24 but the fourth consecutive year of robusta bean deficits.
In a bearish factor, Conab revised its 2024 Brazil coffee production to 58.8 million bags from a January forecast of 58.1 million bags.
Tight robusta coffee supplies from Vietnam are a bullish factor. 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. Vietnam's 2023/24 coffee exports would drop 20% y/y to 1.336 million tonnes. Vietnam's General Department of Customs reported last Friday that Vietnam's April coffee exports fell by 19.5% month on month and by 7% year on year to 152,073 million tonnes.
There has recently been some bearish coffee export news. The International Coffee Organization (ICO) reported on May 3 that global Mar coffee exports rose by 8.1% year on year to 12.99 million bags, and Oct-Mar global coffee exports were up by 10.4% year on year to 69.16 million bags. Also, Cecafe reported last Monday that Brazil's April green coffee exports surged by 61% year on year to 3.9 million bags. Brazil's exporter group Comexim, on February 1, raised its Brazil 2023/24 coffee export estimate to 44.9 million bags from a previous estimate of 41.5 million bags. Brazil is the world's largest producer of arabica coffee beans.
Following are domestic Robusta coffee prices on May 29, in Vietnam's Central Highlands:

District/City

Purchase price

(VND/kg)

Vs. May 28

LAM DONG

 

 

— Bao Loc ROBUSTA

118,500

   3000

— Di Linh  ROBUSTA

118,500

3000

— Lam Ha  ROBUSTA

118,500

3000

DAK LAK

 

 

— Cư M'gar  ROBUSTA

119,500

   3000

— Ea H'leo  ROBUSTA

119,400

3000

— Buon Ho  ROBUSTA

119,400

3000

GIA LAI

 

 

— Chư Prong  ROBUSTA

119,500

   3000

— Pleiku  ROBUSTA

119,400

3000

— La Grai  ROBUSTA

119,400

3000

ĐAK NONG

 

 

— Gia Nghia  ROBUSTA

120,000

3000

— Đak R'lap  ROBUSTA

119,900

3000

KON TUM

 

 

— Đak Ha  ROBUSTA

119,400

3000


T.Huong
Source: Vitic

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