Vietnamese coffee prices skyrocket due to shortage
"Vietnam Economic Times" reported on March 8: Last weekend, ICE futures European Robusta coffee prices rose for three consecutive rounds, March delivery prices rose 79 US dollars, reaching 2192 US dollars/ton. With the rise in international market prices, Vietnam's domestic coffee prices have also risen simultaneously. On March 3, the price of coarse coffee beans in Sai Yuan region rose by 1,000 - 1,200 VND/kg to 46,500 - 47,200 VND/kg. The West Plains region, which accounts for 80% of the country's production, may have a 30% reduction in coffee harvest this year due to dry weather. Not long ago, Brazil, the world's largest coffee exporter, decided to import coffee beans from Vietnam, which aggravated the shortage of supply. Coffee farmers appeared reluctant to sell, hoping that the price would rise to VND 50000/kg.
