Coffee prices continued to rise sharply on Wednesday, ranging from VNĐ122,000 - VNĐ123,500 (US$4.8-$4.86) per kilogramme in the Central Highlands – the largest coffee growing area in the country.
Amid the rapid escalation of prices, industry experts emphasise the importance of proactive planning for businesses. They recommend establishing strong connections and developing raw material areas to ensure a stable supply of goods and specific order plans.
As of the start of 2023, domestic coffee prices have risen by approximately 20 per cent since the end of 2002, reaching VND48,000 per kg (equivalent to US$2.05 per kg) and inching closer to the peak recorded in August of...
The situation could turn around in Q1 as global coffee consumption is expected to pick up on the back of falling inflation worldwide, leading to the recovery of coffee prices.
Coffee prices have ped to record lows in southern Dong Nai province,
pushing coffee growers, particularly small enterprises, to the verge of
bankruptcy.
Since February of this year, local coffee markets in the Central
Highlands and the southern parts of the central regions of Viet Nam have
experienced a rush on sales as coffee prices rise.
Coffee prices fell sharply at the beginning of last week after rumours of a frost in Brazil''s coffee growing areas dissipated.
Brazil is the world''s largest coffee producer and exporter.