Export price of Vietnamese Robusta coffee beans shoots up globally
VOV.VN - The export price of Vietnam’s Robusta coffee beans in the first half of September increased sharply and far exceeded the export price of Arabica coffee beans by nearly US$1,000 per tonne, according to the Vietnam Coffee and Cocoa Association (VICOFA).
This is an unprecedented change in the history of Vietnam's coffee industry as the price of Robusta coffee was usually only one-third compared to that of Arabica coffee, said VICOFA experts.
Statistics indicate that the country exported 17,305 tonnes of coffee worth more than US$87 million during the first half of September, representing a drop of about 18% in volume but up about 55.1% in turnover compared to the same period last year.
Robusta coffee made up a large export proportion with 15,155 tonnes valued at US$76.583 million. The average export price stood at US$5,053 per tonne.
Meanwhile, the county exported 1,129 tonnes of Arabica coffee worth US$4.705 million with an average price of US$4,166 per tonne.
Experts have attributed this shift in the export price between Robusta and Arabica coffee to the low price of Robusta coffee coupled with its increasingly improved quality. Therefore, coffee processors and roasters have turned to Robusta as they attempt to make greater profits, leading to rising demand.
Meanwhile, Robusta coffee output has decreased due to the impact of weather conditions with farmers switching crops after a long period of experiencing low coffee prices.
