Despite the global coffee market’s volatility, it is essential for Vietnam to keep domestic prices stable to retain its coffee export share. Though the Lantern Festival has passed, many young women from mountain villages continue to gather at the central flower park in Buon Ma Thuot City, soaking in the vibrant spring blooms opposite Phan Chu Trinh School. The festive atmosphere is amplified by a sense of optimism—coffee, black pepper, and other key agricultural products have marked up in price during Tet (Lunar New Year), easing financial worries and boosting farmers’ confidence in the year ahead. In previous years, Tet was often accompanied by price fluctuations that kept farmers on edge. Black pepper prices once plummeted to as low as VND35,000 per kilo, far below production costs, forcing many to sell off their farms or seek jobs in industrial provinces. Coffee prices, at one point, dropped to just VND4,500 per kilo, leaving farmers torn between selling at a loss or holding on to their stocks with uncertainty. “God has finally rewarded hardworking farmers,” said Tam from Krong Buk District in Dak Lak Province. “This year, black pepper prices have rebounded to VND160,000 per kilo, even as the harvest has just […]
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