Local coffee prices in Vietnam are rising again, and the Red Sea problem may escalate.
Recently, according to the Vietnam Coffee and Cocoa Association, the price of coffee in Vietnam has risen sharply. In the international market, the price of robusta coffee delivered in May 2024 rose to US $3450 per ton, while the price of Arabica coffee fell to 182.95 cents per pound, but the price of coffee in Vietnam rose further to 93200 dong / kg.
Coffee prices in the central highlands, Vietnam's largest coffee-producing region, rose by 1300 to 1400 dong / kg. The price of barreled coffee beans ranges from 92400 to 93200 dong / kg. Specifically, in Lindong province, the price of coffee is currently at the lowest level in the region, at 92400 dong / kg, an increase of 1400 dong / kg over the previous price, while in Danong province, the current price of coffee is 93200 dong / kg, an increase of 1300 dong / kg over the previous price. The price of coffee in Calais, Kunsong and Dale provinces was 93000 dong / kg, up 1300-1400 dong / kg.
The high price is due to the tight supply of coffee in Robusta, Vietnam, where major traders have stepped up their efforts to buy coffee beans in order to protect stocks, and because farmers are reluctant to hand over their coffee beans early in the morning. as a result, traders are busy buying coffee beans to fulfill their contracts and reduce losses. However, Vietnam recently said that it will have a better chance of exporting coffee to Italy.
![](https://world.gafei.com/uploadfile/0f/4ebdb484.jpg)
According to Eurostat, Italy's coffee imports from non-EU markets reached 6.2461 million tons in 2023, valued at 1.94 billion euros ($2.1 billion), but fell 4.2 per cent compared with 2022. Although Italian coffee imports declined in 2023, the import market capacity is increasing, and the Italian coffee market is forecast to grow at an average annual rate of 3.35% tons between 2024 and 2029. In addition, according to market research results, Robusta coffee dominates the Italian coffee market, with a market share of 56% in 2023, so Vietnamese coffee exporters are optimistic about this market.
However, what is more serious at present is the problem of Eurasian routes. Since November last year, the Houthi have launched several attacks in the Red Sea and the Strait of Mande. This conflict has forced shipping companies to bypass the Cape of good Hope in southern Africa, causing transportation costs and time to soar. Recently, Houthi leaders said in a speech that the group's action against passing ships would escalate, not only to prevent ships from passing through the Arabian Sea, the Red Sea and the Gulf of Aden, but also to prevent access to the Cape of good Hope in South Africa through the Indian Ocean. Although the group only blocks Israeli and US-related ships, the move will exacerbate tensions in the Red Sea and put global shipping in trouble again.
The picture comes from a post posted by the leader of Houthi on X (formerly Twitter).
- Prev
Ethiopian Coffee Bean | introduction of Godding Cooperative Coffee beans in Yega Xuefei producing area
In Africa, there are many coffee producing countries, such as Rwanda, Kenya, Ethiopia and so on. Ethiopia has the largest coffee gene pool in the world and has a wide variety of coffee. It is estimated that there are nearly 15000 coffee varieties in Ethiopia today. It is also recognized as the birthplace of coffee and the largest in Africa.
- Next
There are pink coffee flowers! What's the difference between it and white coffee flowers?
For millions of farmers around the world, as long as the coffee trees begin to bloom in clusters of fragrant white flowers, it means that the season is about to enter the harvest stage. The more luxuriant and dense the petals are, the more coffee fruit farmers can harvest. In our past impression, coffee flowers are generally elegant and simple pure white.
Related
- Gu Ming was exposed to bloody phlegm?! Municipal supervision: unable to identify
- Continue the encirclement and suppression! Cody wants to open 50,000 convenient stores and is desperate for lucky luck!
- Sudden! Eritrea announced the suspension of all Ethiopian flights. Ethiopian coffee exports are facing serious problems
- Introduction to Sulawesi Island, a coffee producing area in Asia and Indonesia
- What is the difference between a bottomless espresso maker and a diverter handle? What handles should I use for single and double powder bowls? Which handle is suitable for extraction and concentration?
- Can coffee beans be stored in the refrigerator? What should I pay attention to when freezing coffee beans? Why are the beans crispy after freezing?
- The price has increased 10 times?! How many cafes did Sam's Desserts save?
- Clang! Clang! Ruixing destroyed a large number of raw materials for products that will be sold in the market!
- Introduction to Brunka, the coffee producing area of Costa Rica in Central America
- Brazil releases report: More than 1000 cities have severe drought!