On the eve of the new harvest, domestic coffee prices continued to increase. Currently, the price of coffee ranges from 40,600 to 41,100 VND/kg. It is forecasted that coffee futures prices will remain high when the supply is not stable, especially in the context of a prolonged epidemic and high sea freight rates.
As noted, the price of coffee in the past week increased continuously. Currently, the price of coffee in Dak Lak is at 40,800 VND/kg, an increase of 100 VND/kg compared to October 22. Coffee price in Lam Dong is at 39,900 VND/kg. In Gia Lai, Dak Nong, the price of coffee today is about 40,700 VND/kg. In general, for the past week, the price of green coffee beans in the Central Highlands increased from 400-500 VND/kg, to 40,600 – 41,100 VND/kg.
In the world market, in the past week, the price of Robusta coffee in London market had 4 consecutive increase sessions at the end of the week, only 1 session decreased. The price of Robusta coffee for spot delivery in November increased by all 24 USD, or 1.14%, to 2,134 USD/ton, while the futures for January delivery in January 2022 increased by all 20 USD, or 0.94%. , to $ 2,141 / ton and the delivery term in March 2022 increased all 13 USD, or 0.62%, to 2,097 USD/ton, significant increases. Trading volume is above average. At the port of Ho Chi Minh City, the price of export Robusta coffee grade 2, 5% black broken rate, traded at the price of 2,165 USD/ton, the difference was +55 USD/ton, down 9 USD/ton (equivalent to USD 9/ton). equivalent to a decrease of 0.4%) compared to October 8, 2021.
According to statistics from the General Department of Customs, in September 2021, Vietnam’s coffee exports decreased by 10.2% in volume and 6.6% in value compared to August 2021. However, compared to September 2020, it increased by 0.6% in volume and 11.7% in value, reaching 100.34 thousand tons, worth 210 million USD. Generally, in the first nine months of 2021, our country’s coffee exports decreased by 5.4% in volume, but increased by 3.4% in value over the same period in 2020, reaching 1.18 million tons, worth 2. $23 billion. This is a good number in the context of the complicated development of the Covid-19 epidemic and high transportation costs.
The special thing is that the price of Vietnam’s export coffee is reaching the highest level since December 2017. Specifically, in September 2021, the average export price of coffee reached $2,093 per ton, up 4% compared to August 2021 and up 11% compared to September 2020. In the first nine months of 2021, Vietnam’s average coffee export price reached 1,884 USD/ton, up 9.2% over the same period in 2020.
The Import-Export Department (Ministry of Industry and Trade) forecasts that in the coming months, Vietnam’s coffee exports will continue to increase. Global consumption demand increases, while Vietnam enters the coffee harvest season 2021/2022. In addition, social distancing measures are gradually being eased, facilitating the harvesting and transportation of commodities, including coffee.
