Robusta coffee prices on the world market gradually recovered after days of decline. This is the basis for expecting that the export price of Vietnamese coffee will increase in the coming time.
According to the latest statistics from the Mercantile Exchange of Vietnam (MXV), by the end of the trading session on August 17 (on the morning of August 18 in Vietnam), Arabica coffee prices continued the decline for the 8th session in a row. This has pushed Arabica contract prices in December to the lowest level in 7 months. The market continues to follow positive signals from coffee exports in Brazil.
The price of Robusta coffee is gradually improving.
According to the Council of Coffee Exporters of Brazil (CECAFE), in the first 16 days of August, Brazil exported over 1.2 million bags of 60-kilogram Arabica coffee beans. This result is up sharply from 971,856 bags shipped abroad in the same period last month and partly puts pressure on prices.
In the opposite direction, Robusta coffee prices started to increase after 3 sessions in a row, closing up 0.55% compared to the reference. The Robusta coffee market is still concerned about the low supply of coffee in leading coffee-producing countries such as Vietnam and Indonesia.
As one of the key agricultural products of Vietnam and grown mainly in the Central Highlands (accounting for 36% of total production), Vietnam is currently the largest exporter of Robusta coffee in the world. Therefore, the increase in prices of Robusta coffee is a sign showing that in the last months of the year, the export value will be even higher when new price-based contracts are delivered.
Up to now, Vietnamese coffee products have been present in 37 major markets, of which 25 markets have reached over 10 million USD, especially 7 markets have reached over 100 million USD (the largest is Germany, followed by Italy, USA, and Japan).
Vietnam’s coffee exports are receiving good support when the transaction and domestic prices remain at a record high to aim to maintain the 2023 turnover of 4 billion USD.
In 2022, Vietnam’s coffee exports reached about 1.78 million tons, worth 4.06 billion USD, up 13.8% in volume and 32% in value compared to 2021. This is also the first year in history that coffee exports surpassed the 4 billion USD mark./.