Vietnam's Ministry of Agriculture predicts a 20% decline in coffee production in the country

Published 2024년 5월 29일

Tridge summary

Vietnam's coffee production is projected to drop by 20% for the 2023-2024 agricultural year, a decrease attributed to climate change leading to earlier dry seasons and extended periods of hot weather, resulting in lower water levels in coffee-growing areas. In addition, low purchase prices for coffee in the past have encouraged farmers to shift to more costly crops, but the recent surge in coffee prices, reaching a record high, might encourage farmers to reconsider growing coffee. Despite these challenges, Vietnam remains a significant player in the global coffee market, having exported over 756 thousand tons of coffee beans in the first part of this year, a 5.4% increase in volume and a 57.9% increase in value compared to the same period last year.

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Original content

Coffee production in Vietnam in the 2023-2024 agricultural year will decrease by 20% compared to the previous year. This forecast was made by the Ministry of Agriculture of the Republic. According to the department's statement, due to climate change this year, the dry season in Vietnam will begin earlier than usual. At the same time, prolonged hot weather has already led to a rapid decrease in water levels in rivers and reservoirs in a number of coffee-growing provinces. The Ministry of Agriculture also points out that purchase prices for coffee have been low in recent years, which has prompted many farmers to gradually switch to growing more expensive crops. However, this year coffee prices have reached a record high, which is expected to serve as an incentive for farmers to restore areas for growing this particular crop, the department believes. Since the beginning of this year, Vietnam has exported over 756 thousand tons of coffee beans, earning about $2.57 billion. This is ...

Source: Kvedomosti