A man checks roasted coffee beans at a factory in Hanoi, Vietnam Nov. 22, 2016. Photo by Reuters/Kham
Coffee exports are projected to reach a record US$5.6 billion this year, driven by rising global coffee prices.
Nguyen Nam Hai, Chairman of the Vietnam Coffee and Cocoa Association, noted that the recent surge in world coffee prices has also pushed up domestic prices.
He explained that while prices might fluctuate as Vietnam’s main coffee harvest begins next month, they are expected to remain higher than last year since other major coffee-producing countries have yet to enter their harvest season.
On Nov. 27, coffee prices in the Central Highlands provinces of Dak Lak, Lam Dong, and Dak Nong were at VND121,800-122,700 per kilogram (US$4.81-4.84), up VND9,000-11,000 from 20 days earlier.
Traders reported that prices have been climbing ahead of the 2024–2025 harvest season, leaving farmers weighing the decision to sell their coffee beans immediately or hold onto their stock in hopes of further price increases.
In the first 11 months of 2024, Vietnam exported approximately 1.2 million tons of coffee, generating nearly $5 billion. This represents a 13.5% decline in volume but a 38.1% increase in value compared to the same period last year.
