Domestic coffee prices recovered according to the world rally


The supply of Vietnamese coffee has shown signs of decline and low inventories. Forecasting to the end of October 2019, will officially enter the new coffee harvest in 2019.
Ministry of Industry and Trade said that the price of Robusta coffee in the country recovered with the increase of the world coffee market.

Specifically, on September 11, 2019, the price of Robusta coffee increased from 0.9 - 1.9% compared to August 30, 2019, up from 2.1 - 3.4% compared to August 12 / 2019. On September 11, 2019, the price of Robusta coffee in the domestic market was popular from 32,800 VND / kg - 33,900 VND / kg. In warehouses around Ho Chi Minh City, the price of Robusta R1 coffee is at 35,100 VND / kg, up 1.4% compared to August 30, 2019 and up 2.9% compared to August 12 / 2019.

According to the General Department of Customs, coffee exports in August 2019 reached 114.1 thousand tons, valued at US $ 197.14 million, down 18.7% in volume and 18.7% in value compared to July / In 2019, compared to August 2018, it decreased by 25.5% in volume and 30.1% in value. In the first 8 months of 2019, coffee exports reached 1.173 million tons, valued at over 2 billion USD, down 11.5% in volume and 21% in value compared to the first 8 months of 2018.

The average export price of coffee in August 2019 reached US $ 1,727 / ton, up 0.6% compared to July 2019, but down 6.2% compared to August 2018. In the first 8 months of 2019, the average export price of coffee reached US $ 1,709 / ton, down 10.7% compared to the first 8 months of 2018.

Regarding the export market in August 2019, coffee exports to most major markets decreased compared to the same period in 2018, except for exports to Spain and Belgium.

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