Tuesday, July 16,2024 - 20:22 GMT+7  Việt Nam EngLish 

DAILY: Vietnamese coffee prices remained unchanged on June,24 2024 

 Monday, June 24,2024

AsemconnectVietnam - On Monday, Robusta coffee prices in Vietnam's Central Highlands, the country's largest coffee-growing area remained unchanged at 120,500–121,700 VND per kg compared to Yesterday, according to Kinhtedothi.

Gia Nghia of Dak Nong provided the maximum price of VND121,700/kg, while traders in Lam Dong province offered the lowest price of VND120,500. Robusta coffee rose to 120,500 VND per kg in Bao Loc, Di Linh, and Lam Ha; to 121,500VND per kg in Dak Lak; to 121,600-121,700VND per kg in Dak Nong; to 121,500VND per kg in Kon Tum, and 121,400-121,500VND per kg in Gia Lai.
Vietnamese coffee growers have been hit hard this year by the worst drought in nearly a decade, raising concerns of pricier espressos across the world, even as some farmers keep yields healthy with clever countermeasures. Domestic forecasts for next season's harvest in Vietnam, the world's second biggest coffee producer, remain grim.
However, a return of rains in recent weeks has improved the outlook, boosting confidence among farmers and officials. But it remains unclear whether the improved weather will help boost output and drive down prices of robusta beans, the variety most commonly found in espressos and instant coffees, of which Vietnam is the world's top producer.
According to data from the General Department of Customs (GSO), Vietnam's coffee exports reached 862,400 tonnes by the first half of this month, declining by more than 8% in volume but up 38% in value compared to the same period last year. This is also a record high compared to the same period in previous
The country's average coffee export price reached 3,475 USD per tonne in the first five months of the year, up 41% year-on-year.
In the early days of June, the price of Robusta coffee in the domestic market increased compared to the end of May. According to the Ministry of Agriculture and Rural Development, there is currently very little coffee inventory left in the domestic market.
It is forecast that coffee output will continue to decrease by about 20 per cent in the upcoming crop year due to the recent prolonged hot weather leading to severe drought in the Central Highlands.
The Vietnam Coffee Cocoa Association (Vicofa) said that coffee prices were currently soaring sharply, therefore, coffee output exported to the world may fall but turnover would still grow. Vicofa expects coffee exports to earn about 4.5-5 billion USD this year.
Following are domestic Robusta coffee prices on June 24, in Vietnam's Central Highlands:

Source: Vitic


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