Vietnam Coffee Association expects coffee shortage for the coming season

Published Dec 27, 2023

Tridge summary

Vietnamese coffee prices are expected to continue increasing due to severe supply shortages, causing difficulties in exporting and leading to hoarding by domestic exporters. The shortage of coffee signed contracts is estimated to be around 80,000 - 150,000 tonnes, with prices forecasted to reach VNĐ60,000 - 70,000 per kg in the coming months. Despite the export revenue potential of $5 billion, hoarding poses significant risks, and Vietnam is focused on promoting sustainable development in the coffee industry.

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Original content

HANOI, Vietnam – The prices of Vietnamese coffee are forecast to continue to increase next year due to severe supply shortage, according to the Vietnam Coffee and Cocoa Association (Vicofa). Đỗ Hà Nam, Vicofa’s Deputy President, said that unpredictable coffee price fluctuations caused difficulties in exporting. In the 2022-23 crops, several domestic exporters could not deliver in time because of rising prices, partly as an impact of hoarding. “During the past three decades, never have we thought that Vietnam could be in a shortage of coffee,” Nam said. The association has estimated that the coffee shortage of signed contracts is around 80,000 – 150,000 tonnes, waiting for the coming harvest season to be fulfilled. Vietnam exported more than 120,000 tonnes of coffee in November, half of which was to make up for the shortage of orders of the previous harvest crop, he said. Coffee prices are forecast to be around VNĐ60,000 – 70,000 per kg in the coming months and are expected to ...

Source: Comunicaffe