In the early days of December 2023, Robusta coffee prices in the domestic market increased sharply compared to the end of November 2023.On December 17, the domestic market recorded an increase of 6,200 – 7,000 VND/kg from December 1.
Specifically, according to data from giacaphe.com, the price of coffee purchased in Gia Lai province, Kon Tum province on December 17, 2023 is quite high at 66,900 VND/kg, an increase of 7,000 VND/kg. In Dak Lak and Dak Nong provinces, coffee was purchased at the highest price of 67,000 VND/kg, an increase of 6,900 VND/kg.
The price of green coffee beans (green coffee, fresh green coffee) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at 66,300 VND/kg, an increase of 6,200 VND/kg.
Coffee prices in Dak Lak province are the highest; In Cu M’gar district, coffee is purchased at 66,900 VND/kg, while in Ea H’leo district, Buon Ho town is purchased at the same rate of 67,000 VND/kg.
The purchasing price reached nearly 70,000 VND/kg. This is something that has never happened in the history of Vietnam’s coffee industry.
Domestic coffee prices are maintaining a high level at the beginning of the season due to large purchasing demand from export and FDI enterprises. Faced with this situation, many forecasts show that from now until the end of April 2024 (when Indonesia enters the new crop), the scarce supply situation will still occur, causing Vietnam’s domestic coffee price to increase at least. until April 2024.
According to statistics from the General Department of Customs, in November 2023, Vietnam’s coffee exports reached approximately 119.3 thousand tons, worth 356.67 million USD, an increase of 172.8% in volume and an increase of 126% in volume. .4% in value compared to October 2023, compared to November 2022, down 7.4% in volume, but up 16.8% in value.
In the first 11 months of 2023, Vietnam’s coffee exports reached 1.41 million tons, worth 3.64 billion USD, down 10.4% in volume, but up 0.4% in value over the same period. last year.
In November 2023, Vietnam’s average coffee export price decreased after continuously increasing in the previous months, reaching 2,990 USD/ton, down 17% compared to October 2023, but still increased by 26.2%. compared to November 2022. In the first 11 months of 2023, our country’s average coffee export price reached 2,573 USD/ton, up 12% over the same period last year.
The Vietnam Coffee and Cocoa Association (VICOFA) said that coffee area is shrinking in many key growing areas. In the 2023/2024 crop year, Vietnam’s coffee output is expected to decrease in many key growing areas. level is about 1.6 – 1.7 million tons, compared to 1.78 million tons in the 2022/2023 crop year. Therefore, it is forecast that by the end of 2023, Vietnam’s coffee exports will continue to maintain the 4 billion USD mark as in 2022.
Currently, Vietnamese coffee is present in more than 70 countries and territories. Vietnam is the second largest coffee exporter in the world. Vietnam’s largest coffee import market is the EU, followed by the US, Japan… Not only does it meet output and supply and demand, but the quality of Vietnamese coffee is on the rise.
Vietnamese coffee has the opportunity to export to China, a market with great potential with high purchasing power, and the average coffee import rate increases by more than 25%/year. Young people in this country increasingly prefer coffee over tea.
