Việt Nam’s coffee export value doubles in January

With the current upward trend, domestic coffee prices are likely to exceed VNĐ80,000 per kg soon. A surge in domestic coffee prices was attributed to the fact that traders actively purchased coffee before the Lunar New Year (Tết) holiday while exporters were afraid of supply shortages like last year so they tended to buy more. The coffee output of the 2023-24 crop in Đắk Lắk Province is forecast to reach 580,000 tonnes, thus the coffee export volume is estimated at 330,000 tonnes. Meanwhile, Lâm Đồng Province has about 175,700ha of coffee and the output for 2023-24 crop is expected to hit 535,000 tonnes. According to the Vietnam Coffee-Cocoa Association (Vicofa), Việt Nam’s coffee production in the 2023-24 crop will be 1.6-1.7 million tonnes, lower than 1.78 million tonnes in 2022-23.