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Coffee Prices on 27/09: Simultaneous Rise, Approaching 67,000 VND/kg in the Vietnam Market

Coffee Price

Today, coffee prices in Vietnam are about 66,100 to 66,800 VND/kg. Coffee has recently experienced a period of decline, necessitating a market adjustment. This is combined with a decrease in the price of gold to 1,900 USD/ounce, creating favorable conditions for capital to flow into the coffee industry.

In Di Linh, Lâm Hà, and Bảo Lộc districts of Lâm Đồng province, coffee is being purchased at 66,100 VND/kg.

In Cư M'gar district, Đắk Lắk province, coffee prices today stand at 66,600 VND/kg. Meanwhile, in Ea H'leo and Buôn Hồ districts, Đắk Lắk province, coffee is being purchased at the same rate of 66,500 VND/kg.

Similarly, in Đắk Nông province, coffee is being purchased at 66,800 VND/kg in Gia Nghĩa and 66,700 VND/kg in Đắk R'lấp.

In Gia Lai province, coffee prices today are 66,400 VND/kg in Chư Prông, and 66,300 VND/kg in Pleiku and La Grai.

Coffee Pricce in Vietnam domestic market

Coffee prices in Kon Tum province today are 66,400 VND/kg.

The domestic coffee market is rebounding compared to the same time yesterday. The sustained high coffee prices are good news for farmers and export businesses. However, it's worth noting that Vietnam's coffee supply is currently facing scarcity issues.

In some key provinces in the Central Highlands, coffee reserves held by farmers and some businesses are very low due to crop failure, leading to a shortage in supply. Most of the available stock is allocated for fulfilling previously signed contracts.

Leaders of the Vietnam Coffee-Cocoa Association (VICOFA) also mentioned that coffee prices are currently at their highest level in the past 30 years. However, export businesses are no longer hoarding coffee as they used to but instead purchase according to immediate demand. With high-interest rates from banks limiting credit access for purchasing, many businesses lack the capital to stockpile coffee.

In August 2023, Vietnam's coffee exports decreased by 22.3% in terms of volume and dropped by 16% in terms of value compared to July 2023. Despite this, coffee prices increased by 8%, with a total export volume of 84,647 tons, equivalent to 258.47 million USD, and an average price of 3,053.6 USD/ton.

According to Kinhtedothi





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