According to congthuong.vn
According to data from the General Statistics Office, exportu coffee of Vietnam in December 2023 continued to increase strongly and reached the highest level in the past 9 months, reaching 190,000 tons, an increase of 59.3% compared to November 2023, but still slightly down 3.5% over the same period. before. Turnover exportcareless reaching 538 million USD, up 51% compared to November 2023 and up 26.4% over the same period last year.
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| Coffee exports in 2023 will benefit in price |
For the whole year 2023, Vietnam’s coffee exports are estimated to reach 1.61 million tons, down 9.6% compared to 2022. However, due to a sharp increase in export prices, turnover still increased by 3.1 %, reaching a new record high of 4.18 billion USD.
The average export coffee price in December 2023 reached 2,834 USD/ton, down 5.2% over the previous month and up 31.1% over the same period last year. Cumulatively in 2023, the average export coffee price will reach 2,604 USD/ton, an increase of 14.1% compared to 2022.
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| Robusta coffee prices increased by 0.14% in the commodity derivatives market due to improved supply |
In the derivatives market, according to the Vietnam Commodity Exchange (MXV), at the end of the trading week of December 26 – 31, Arabica prices decreased by 2.33% while Robusta prices inched up slightly by 0.14% compared to reference. Standard Arabica inventories on the Intercontinental Commodity Service (ICE-US) continue to recover, and the weather in Brazil improves, causing concerns about supply shortages in the market to somewhat ease. However, rumors that Vietnam is restricting exports through estimates of the amount of goods shipped in 2023 help Robusta prices improve.
Inventories of standard Arabica last week increased by 3,312 bags of 60kg, to 251,224 bags. Although the increase is not very impressive, this is a good signal about inventory data in particular and coffee supply in general.
In addition, concerns about heat risks in Brazil have been averted as temperatures cooled thanks to above-average rainfall in Brazil’s main coffee growing region. This helps coffee trees have better growing conditions, thereby maintaining a positive outlook for the country’s 2024/24 coffee supply.
Forecasting the economic potential brought by coffee trees, many localities plan to grow coffee, in which Dak Nong province is also focusing on building specialty coffee areas according to the standards and evaluation process of the Government. World Specialty Coffee Association (SCA) and World Coffee Quality Institute (CQI). Dak Nong also sets a goal that by 2025, the province’s specialty coffee area will reach 1,000 hectares, with a selected coffee bean output of about 530 tons.
Son La province aims to reach 17 thousand hectares of coffee growing area in the province by 2025, with an average yield of 2-2.5 tons of green coffee/hectare; Coffee replanting area by 2025 will be about 8 thousand hectares; About 70-90% of the coffee area for harvesting products applies certified sustainable coffee production processes.
Currently, Son La is the province with the second largest Arabica coffee growing area in Vietnam after Lam Dong. In 2023, Son La’s Arabica coffee area will reach 20 thousand hectares, of which the area certified for sustainability is over 18 thousand hectares (reaching 90% of the coffee growing area). Annual coffee output is estimated at 40,000-50,000 tons of beans, worth 4,500-5,000 billion VND.
According to the Gia Lai Department of Industry and Trade, by 2023, the coffee area for harvest in Gia Lai province will reach 87 thousand hectares, concentrated in the districts of Dak Doa, Ia Grai, Chu Prong, Chu Pah, Mang Yang, Duc Co, and Kbang. , Chu Se and Chu Puh.
The volume of coffee exports of Gia Lai province in 2023 is estimated to reach 240 thousand tons, worth 490 million USD, accounting for 72% of the total export value of the whole province, up 1.27% in volume, up 4.26%. in value compared to 2022.
