Vietnam: Coffee price exceeded the mark of 74,000 VND/kg

Published 2024년 1월 23일

Tridge summary

The price of green coffee beans in Vietnam's Central Highlands provinces has hit a record high of over 74,000 VND/kg due to transportation congestion in the Panama Canal and Suez. This has impacted global commodity prices, including coffee, and led to a significant drop in coffee inventories worldwide. The inventory of Robusta coffee, in particular, has fallen to its lowest in a decade, under 30,000 tons. Additionally, concerns about the crop in major Robusta coffee producing countries have led to farmers holding back sales, further driving up prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

After exceeding the mark of 71,000 VND/kg in mid-January, the price of green coffee beans in the Central Highlands provinces did not stop but continued to increase. In the past week, the price of green coffee continued to exceed the mark of 72,000 VND/kg. Earlier this week, the price of green coffee continued to increase and surpassed 74,000 VND/kg on January 23. Specifically, in Dak Lak and Dak Nong provinces, the price of green coffee is at 74,100 VND/kg. In Gia Lai, coffee price is 74,000 VND/kg. In Lam Dong, coffee price is 73,500 VND/kg. Compared to the previous day, coffee prices on January 23 increased to 1,200 - 1,300 VND/kg. Thus, just in January, the price of Vietnamese green coffee has continuously surpassed record price milestones and has now set a new record price in the history of the coffee industry at more than 74,000 VND/kg. On the world market, the price of Robusta coffee on the London trading floor in recent days has also tended to increase and has exceeded the ...

Source: Agriculture