News

Domestic coffee prices increased rapidly in Vietnam, approaching 120,000 VND/kg

Raw Common Coffee Bean
Vietnam
Market & Price Trends
Published Apr 18, 2024

Tridge summary

As of April 17, Vietnam's Central Highlands saw a significant surge in coffee prices, reaching nearly 120,000 VND/kg, with a corresponding increase in the London market where Robusta coffee prices hit a new high of 4,058 USD/ton, surpassing the 1994 record. This price hike is due to a shortage in Vietnam's coffee supply over the last two seasons, leading to higher prices for coffee products and a rise in coffee cup prices in shops by 2,000 - 5,000 VND. The domestic price exceeding 4,500 USD/ton poses challenges for new export contracts. However, the anticipated Brazilian Robusta harvest in July might stabilize the market, potentially reducing prices to 3,800 - 3,900 USD/ton for the later part of 2023.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

On April 17, coffee prices in the Central Highlands provinces are approaching 120,000 VND/kg, at a common level of about 116,000 VND/kg, 1,500 - 1,600 VND/kg higher than the previous day. Robusta coffee prices on the London floor also had an increase, highest at 4,058 USD/ton, exceeding the 1994 historical record of 4,040 USD/ton, and the average transaction was 4,005 USD/ton in monthly delivery. 5 to come. About a week ago, Mr. Thai Nhu Hiep, Director of Vinh Hiep Co., Ltd., Vice Chairman of the Vietnam Coffee and Cocoa Association (VICOFA), predicted that coffee prices would rise to 120,000 VND/kg. It's strange that the supply is running out. Vietnam's coffee shortage is not only from the 2023-2024 crop but also started from the previous two seasons. "At the price of 90,000 VND/kg, there is very little coffee left in the population. Those who still have coffee are rich farmers with financial potential from durian trees" - Mr. Hiep explained. Coffee prices have increased, causing ...
Source: Vietstock
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