According to the Department of Agricultural Product Processing and Market Development (Ministry of Agriculture and Rural Development), in the first three months of this year, the volume and value of Vietnam’s coffee exports reached 474,000 tons and 801 million USD, down 3% in volume. and a decrease of 5.6% in value over the same period in 2019.
Germany, the US and Italy continue to be the 3 largest coffee consuming markets of Vietnam. The average export coffee price in the past 3 months reached 1,692 USD / ton, down 2.8% over the same period in 2019.
Coffee prices fell to the lowest level in the past 10 years. (Illustration)
Compared to February 2020, the price of Robusta coffee in the Central Highlands provinces decreased by 600 – 800 VND / kg to 30,500 – 30,700 VND / kg. Compared to the end of 2019, the price decreased by 1,600 – 2,100 VND / kg. While domestic Robusta coffee prices have fallen to a record low in 10 years. Due to low prices, coffee growers limit selling, leading to a lack of supply for export. Also according to the Department of Agro-Processing and Market Development, in March 2020, the domestic coffee market fluctuates. decreasing with the world market trend.
Industry experts forecast that import and export activities were delayed everywhere due to increased epidemics that forced many freight forwarding ports to close, making coffee prices unable to recover immediately.
Along with that, the coffee consumption market decreased, the purchasing power was weak because the Covid-19 epidemic took place mainly in the main consuming areas; Many governments, including Europe and the US, have banned the sale of direct coffee, many chains / restaurants closed, causing great damage to the coffee industry, especially growers./ .
VOV
