Coffee prices in Vietnam have hit a new high

A shortage of coffee in the world market has led to an increase in coffee production and prices in Vietnam, the Viet Cong e-News reported.

In the first four months of 2023, Vietnam's coffee exports totaled $1.7 billion, up 2.5 percent year-on-year. Coffee export prices rose, averaging $2,250 a tonne.

Vietnam Coffee and Cocoa Association representatives said that recently, due to the shortage of domestic and world market supply, Vietnam coffee export production and prices have increased. In the domestic market, Robusta coffee was priced at VND 56,000 per kg, a record high, surpassing the previous peak of VND 50,000 per kg set in 2011.

Currently, the average price of coffee in Vietnam is still high at 53,700 dong/kg. In the next few months, Vietnam's coffee export prospects are promising against the background of increased demand and unchanged global supply.

Coffee is one of Vietnam's main agricultural exports. In 2022, Vietnam has about 710,000 hectares of coffee cultivation area, 50% of which is planted with coffee varieties with high export value.

Viet Nam Ministry of Agriculture and Rural Development of Agriculture and rural Development of the Department of Planting deputy Director Le Vinde said that in order to continue to improve the quality of coffee, we must continue to improve coffee farmers' irrigation systems and enterprises' processing production lines, so that the seeds, cultivation, crude processing, fresh-keeping production lines using the best technology level to meet the increasingly stringent export requirements.