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Ho Chi Minh City
Tuesday, June 25, 2024

Vietnam coffee at stake

By Nguyen Quang Binh

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In a historic development, the domestic coffee market has experienced an unprecedented and prolonged rise in coffee prices, spanning half of the coffee crop cycle. By the end of the previous crop cycle on September 30, 2023, the price of robusta coffee in the domestic market hovered around VND65 million per ton. However, by April 15, 2024, it skyrocketed to VND110 million per ton, marking a significant price surge amidst lingering market uncertainty. The prolonged upswing of the coffee market has brought both joy and apprehension to importers and exporters alike. While they celebrate the soaring prices, they also grapple with nervousness stemming from the exorbitant input costs and the challenge of securing sufficient funds for purchases. The scarcity of unprocessed coffee beans has compelled processing factories to halt operations, leaving workers idle. The most pressing concern remains the scarcity of coffee for fulfilling sales contracts amidst the relentless rise in prices both domestically and internationally. The uncertainty looms large as sellers are unsure whether they can procure coffee at the same price they sold it for. Moreover, the market is rife with negative phenomena exacerbating the situation. Some individuals exploit the circumstances by attributing the lack of coffee supply […]
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