HCMC – Vietnam’s coffee prices rebounded in the week of April 14-20 after three straight weeks of losses, with Arabica up nearly 5% and Robusta gaining over 3%, said the Mercantile Exchange Of Vietnam (MXV).
During the week, Arabica prices rose 4.98% to close at US$8,278 per ton, while Robusta edged up 3.02% to settle at US$5,253 per ton.
The price hike was driven by lower global supply, higher demand in the U.S., and the rise of Brazil’s real currency, which made exports from the world’s largest coffee producer more expensive and slowed shipments.
The Brazilian Coffee Exporters Council (Cecafé) reported that the country’s Conillon (Robusta) coffee exports in March were only 61% of February’s volume and dropped more than fivefold compared to the same period last year.
Meanwhile, the Brazilian real currency has appreciated 6.1% against the U.S. dollar since the beginning of the year, making it harder for Brazil to export coffee.
In the U.S. market, the National Coffee Data Trends (NCDT) report for the week showed that coffee has overtaken bottled beverages to become the most consumed drink in the nation, with an average of three cups per day.
In the domestic market, raw coffee prices in the Central Highlands ranged from VND129,000 to VND129,700 per kilogram on April 21, unchanged from the previous day but down by VND3,500 to VND4,000 per kilogram compared to April 17.
Earlier, during Deputy Prime Minister Ho Duc Phoc’s working visit to the U.S., Deputy Minister of Agriculture and Rural Development Hoang Trung proposed that the U.S. Department of Agriculture grant tariff exemptions for certain essential, non-competing Vietnamese agro-aquatic products, such as seafood, cashew nuts, pepper, fruits, and coffee.
