Vietnamese coffee prices keep dipping
In this article (5)
Coffee prices in the Central Highlands have been decreasing since the beginning of the year, and are not likely to recover any time soon, according to the Ministry of Agriculture and Rural Development.
The price stands at VND35,100–35,500 ($1.55-1.56) per kilogram, down VND400–600 from the end of last year.
This is the lowest price in the last two months and Vietnamese farmers are holding on to their stock without selling, a ministry report said.
It attributed the price to favorable weather in Brazil, the world’s top coffee exporter; and the start of a new season in Indonesia, another major producer and exporter.
With global supply remaining high, a price rise is unlikely to happen soon.
However, Vietnam still enjoyed a positive export situation in the first four months of the year, exporting 41,700 tons of coffee worth $161 million, an increase of 23.5 percent in volume and 19.6 percent in value.
Germany and the U.S. remain the largest markets for Vietnamese coffee, respectively accounting for 13 and 11 percent of total exports, according to the agriculture ministry.
Questions & Answers
Q.What is the current price per kilogram for coffee in the Central Highlands?
What is the current price per kilogram for coffee in the Central Highlands?
Coffee prices currently range from VND35,100 to VND35,500 ($1.55-$1.56) per kilogram. This represents a drop of VND400-600 from the end of last year and is the lowest price in the past two months.
Q.What are the main reasons for the decrease in Vietnamese coffee prices?
What are the main reasons for the decrease in Vietnamese coffee prices?
The Ministry of Agriculture and Rural Development attributes the price drop to favourable weather conditions in Brazil, the world's leading coffee exporter. Also, the new coffee season beginning in Indonesia, another significant producer, is contributing to the situation.
Q.How have Vietnam's coffee exports performed despite the falling prices?
How have Vietnam's coffee exports performed despite the falling prices?
Vietnam's coffee exports showed a positive trend in the first four months of the year. The country exported 41,700 tons of coffee, valued at $161 million, marking an increase of 23.5 percent in volume and 19.6 percent in value.
Q.Which countries are the largest buyers of Vietnamese coffee exports?
Which countries are the largest buyers of Vietnamese coffee exports?
Germany and the U.S. Are Vietnam's primary export markets for coffee. Germany accounts for 13 percent of total exports, while the U.S. Represents 11 percent, according to the agriculture ministry.
Reader pulse
What's the immediate impact for retailers?
17,249 votes so far