Diminishing Robusta Crop Causes Vietnamese Prices to Remain Elevated — Tridge
Robusta coffee prices in the Dak Lak wholesale market in Vietnam have gained slightly over the past month due to a diminished crop. Prices rose from USD 1.61 per kilogram during W3 of November to USD 1.78 per kilogram during W3 of December, a 11% increase.
Diminishing Robusta Crop Prevents Vietnamese Coffee Prices from Decreasing
Robusta coffee prices in the Dak Lak wholesale market in Vietnam have gained slightly over the past month due to a diminished crop. Prices rose from USD 1.61/kg during W3 of November to USD 1.78/kg during W3 of December, an 11% increase.
Due to lower yields, Vietnamese coffee production of MY 2022/23 is forecast to drop to 30.22 million bags, green bean equivalent (GBE). Despite generally favorable weather conditions, Robusta coffee yields witnessed lower performance than the previous year. Production was further impacted by reduced fertiliser application due to elevated prices.
According to the Vietnam Meteorological and Hydrological Administration, the La Niña phenomenon is expected to continue until the end of 2022 and could extend through the start of 2023, further impacting production.
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Originally published at https://www.tridge.com.