Vietnamese coffee prices hit record high amid tight supply
Publisher: admin Publish Date：2022-5-15 Visit:According to the "Vietnam Electronic Newspaper", the shortage of coffee supply in the world market has prompted an increase in both coffee production and prices in Vietnam.
In the first four months of 2023, Vietnam's coffee exports totaled US$1.7 billion, a year-on-year increase of 2.5%. Coffee export prices rose, with an average price of $2,250 per ton.
The representative of the Vietnam Coffee and Cocoa Association said that recently, due to the shortage of supply in the domestic and world markets, Vietnam’s coffee export output and price have both increased. In the domestic market, the price of Robusta coffee was 56,000 VND per kilogram, a record high, surpassing the previous high of 50,000 VND per kilogram set in 2011.
At present, the average price of coffee in Vietnam is VND 53,700 per kilogram, which is still at a high level. In the next few months, against the background that the global supply of goods has not changed much but the demand has increased, Vietnam's coffee export prospects are bright.
Coffee is one of the main agricultural products exported by Vietnam. In 2022, Vietnam's coffee planting area will reach about 710,000 hectares, of which 50% will be planted with coffee varieties with high export value.
Le Van Duc, deputy director of the Plantation Bureau of the Ministry of Agriculture and Rural Development of Vietnam, said that in order to continue to improve the quality of coffee, we must continuously improve the irrigation system of coffee farmers and the processing production lines of enterprises, so that the production lines related to seeds, cultivation, rough processing and fresh-keeping use the best Technical level to meet increasingly stringent export requirements.
