return icon Vietnamnet.vn

Global coffee price fluctuates, domestic price plunges

Coffee prices in the Central Highlands and the south are predicted to continue to slide downward as prices have fallen globally.

The Robusta price in London with delivery in July 2020 was traded at $1,134 per ton on the same day, which meant a decrease of $16 per ton (1,39 percent).

 

{keywords}

 



Coffee beans were traded at VND30,400-30,900 per kilogram in the Central Highlands and southern region, which represented a decrease of VND700-800 per kilogram compared with one week before (June 12) and decrease of VND200-400 per kilogram compared with May.

In Bao Loc district, coffee was traded at VND30,400 per kilogram, the same as in Di Linh and Lam Ha districts. The price was higher in Cu M’gar, Ea H’leo and Buon Ho districts of Dak Lak province, at VND30,900 per kilogram.

In Kon Tum province, the price hovered around VND30,700 per kilogram. In HCM City, R1 coffee with delivery at ports was around VND33,000 per kilogram.

Coffee prices in the Central Highlands and the south are predicted to continue to slide downward as prices have fallen globally.

Prior to that, farmers witnessed a ‘black day’ March 28, when the price fell out of the VND30,000 per kilogram threshold, selling at VND29,700 per kilogram only, a 15-year low, lower than the production cost of VND32,000-33,000 per kilogram.


According to the Vietnam Industry and Trade Information Center, there are few transactions and the situation has lasted one month because farmers had sold nearly all coffee they had before the end of the 2019/2020 crop.

Do Ha Nam, deputy chair of the Vietnam Coffee and Cocoa Association (Vicofa), president of Intimex Group, said because of the spread of coronavirus in Europe, most coffee processing mills there have had to close. Therefore, most of the orders from Europe have been canceled.

The sharp fall of coffee price has prompted many farmers to fell coffee plants to grow other crops. Analysts warned that this would affect Vietnam’s coffee industry in the time to come.

The General Department of Customs (GDC) reported that Vietnam exported 63,800 tons of coffee in the first half of June with turnover of $108.08 million. It is expected that the total export amount would reach 127,600 tons in this month. The average export price was $1,680 per ton in May, down by 0.4 percent compared with April 2020, but up 2.4 percent compared with May 2019.

The US Department of Agriculture (USDA) has predicted that Brazil would have coffee output of 67.9 million bags this year, while Vietnam’s output may decrease slightly because of unfavorable weather conditions at the beginning of the crop.

The high global inventory, predicted to reach 42 million bags, is clearly unbeneficial to coffee production countries.

Linh Ha 

 

Wake up and smell the egg coffee

Wake up and smell the egg coffee

A taste of Hanoi’s famed cà phê trứng or egg coffee got me out of my comfort zone of a regular black coffee without sugar to try a new treat. 

CNN: Vietnamese coffee wakes up the world

CNN: Vietnamese coffee wakes up the world

The US Cable News Network (CNN) published an article on March 17, explaining why the world is waking up to Vietnamese coffee.

MORE NEWS

Hanoi's tourism shows strong recovery since March 2022

Eight months after the reopening of international travel, Hanoi has seen substantial development in the tourism sector.

The natural beauty of Trang An

Trang An Landscape Complex is a mixed cultural and natural property within three protected areas, including the Hoa Lu Ancient Capital, the Trang An-Tam Coc-Bich Dong Scenic Landscape, and the Hoa Lu Special-Use Forest.

Screening tool to bump up FIE quality

Achecklist for appraisal of foreign-invested ventures in Vietnam will help the country woo desired foreign funding.

Lacking money, work on privately funded thermal power projects stalls

The thermal power projects developed by private investors all have been going slowly because of multiple problems.

Boosting international railway transport investment

The initial successes of the railway container transport network from Vietnam to Europe have inspired engagement with the international railway network.

Entertainment and cultural events of the week (November 28-December 4)

Upcoming entertainment and cultural events in Vietnam's major cities on November 28-December 4.

Wood manufacturers on alert for unpredictable new year prospects

While the United States is nearing a stance on imported wood that will affect Vietnam, domestic producers are being urged to modernise to survive.

Planning and Investment Ministry releases round-up of business results

The Ministry of Planning and Investment (MPI) has just released the Enterprises White Book 2022, which confirmed the ratio of loss-making foreign-invested enterprises (FIEs) is much more than other sectors.

Putting Vietnamese silk on the world map

VN has a long tradition of silk production and silk weaving. However, the Vietnamese silk brand is faint on the world map, a silent shadow behind foreign big brands.

Facilitating capital flows

Vietnam’s stock and property markets are struggling with volatile capital flows. If the situation is not properly tackled, dire consequences would be unavoidable.

Young singers entertain fans with new content

Young Vietnamese singers have been busy bringing new music content to audiences from now to the year end.

PM inspects infrastructure projects in HCM City

PM Pham Minh Chinh on November 27 inspected a number of infrastructure projects in HCM City, including the expansion of Binh Hung waste treatment plant, the construction of Ben Luc-Long Thanh expressway and the upgrading of National Highway 50.

Tiny traditional houses provide cultural model

To teach future generations about the symbolic meaning of the traditional house, an artisan in Plei Kte Village in the central province of Gia Lai has weaved many miniature communal houses from bamboo wicker.

Authentic Korean flavour in Hanoi

Dalgoogi Makchang is located in the Nam Trung Yen urban centre in Cau Giay District, which is dubbed as “little Korea”, about 10km from central Hanoi.

VIETNAM BUSINESS NEWS NOVEMBER 27

Vietnam, UK yet to tap potential of trade deal
back_to_top