Source: baochinhphu.vn
According to the Ministry of Industry and Trade, in the first nine months of 2022, Korea’s coffee imports from Vietnam reached 25.55 thousand tons, worth $ 59.37 million, down 8.6% in volume, but up 30.8 % in value over the same period in 2021. Vietnam’s coffee market share in Korea’s total imports decreased from 20.36% in the first nine months of 2021 to 16.78% in the first nine months of 2022 .
The Ministry of Industry and Trade also made an assessment, so it can be seen that in the Korean market, Vietnam’s coffee industry is under great competitive pressure from other producing countries such as Brazil, Colombia, Ethiopia, and Quatemala.
Overall assessment of coffee prices in mid-November 2022, the Ministry of Industry and Trade said the decrease in coffee prices slowed down thanks to some information supporting the market. The weather forecast for the Central Highlands coffee growing area of Vietnam will have rain on a large scale, hindering harvesting and drying. Meanwhile, the Arabica coffee market is still under downward pressure due to the new crop supply from Brazil and the October 2022 inventory report increasing by 5.8% over the same period in 2021.
In mid-November 2022, the price of Robusta coffee in the domestic market continued to decrease. On November 18, 2022, the domestic price of Robusta coffee decreased from 700-800 VND/kg compared to 9/11/2022; The lowest price is 39,200 VND/kg in Lam Dong province; the highest level of 39,700 VND/kg in Dak Lak and Dak Nong provinces; in Gia Lai province is 39,600 VND/kg.
