Coffee prices hit record highs

(ĐN)- As of early April, coffee prices in Dong Nai climbed to VND 132,000-133,000 per kilogram, an increase of VND1,200 from the previous month. The price hike is largely driven by fluctuations in the export market.

In Jan-March, Vietnam exported 509,500 tons of coffee, a 12.9% decrease in volume compared to the same period of last year, but export value surged by 49.5% to nearly US$2.9 billion. The average export price reached $5,656 per ton, a 71.7% rise year-over-year, with expectations of hitting $6,000 per ton soon.

Drought conditions in major coffee-producing countries are anticipated to impact future yields, keeping prices elevated. Farmers in Dong Nai are benefiting from high profits and increasing investment in coffee cultivation to boost productivity.

Reported by B.Nguyen