There has not been another coffee export contract of Vietnamese enterprises during the past two weeks, although the price of coffee in the world market has increased by 10-12 USD / ton.
The selling price of coffee at this time has dropped to 5,000 VND / kg while the production cost of coffee reaches 10,000-12,000 VND / kg. Dozens of businesses and hundreds of coffee growing households in Dak Lak are in the situation: every day "opening their eyes" is seeing losses ...
From the middle of January, up to now, the coffee market has almost been frozen because the export price of Robusta coffee type 2 has fallen below 500USD / ton. The coffee industry has once again called for urgent support from the Government.
The Ministry of Trade said that in the first quarter of this year, Vietnam is expected to export 650,000 tons of rice, twice as much as the same period last year. Meanwhile, coffee export turnover decreased by 45%.
Over the weekend, both domestic and export prices of coffee in Vietnam decreased, reaching an unprecedented lows in the last 15 years. In some districts of Lam Dong and Dak Lak, Robusta coffee with dry buckets is sold at 4,500-4,700 VND / kg, grade 1 at 5,400-5,700 VND / kg, down 300-400 VND / kg compared to the beginning of the month. 7.
Optimistic economic growth has attracted investors back to the market to increase buying, helping coffee prices rebound strongly on both exchanges futures, while prices of gold and crude oil seem to be on the sidelines.