Coffee export turnover to most traditional markets has increased sharply since the beginning of the year.

The Ministry of Agriculture and Rural Development said that Vietnam’s coffee output in the 2023–2024 crop year is estimated to decrease by 20% compared to the previous crop year, to 1.47 million tonnes, the lowest in four years, putting pressure on Robusta supply in the world market.

After reaching all-time high of over VND130,000 (US$5.1) per kg, domestic coffee prices have dropped sharply in recent days.

The prices of Vietnamese coffee and pepper are forecast to continue increasing due to limited supply while the export of these products has also enjoyed relative growth, according to insiders.

Maintaining last year's growth momentum, the exports of many Vietnamese agricultural products posted strong performance in the first months of this year.

New records have continuously been set in the prices of coffee in Central Highlands localities recently, now standing at over VND90,000 (US$3.65) per kilo.

VOV.VN - The recent continuous rising coffee prices have helped local coffee exports to achieve the target of US$1 billion in the first two months of the year, representing an increase of 50% against the same period from last year, according to figures given by the General Department of Vietnam Customs.

VOV.VN - Coffee farmers are advised to cash in on export shipments as coffee prices are on the rise in the global market.

Over the past month, the price of coffee bean has continuously increased, reaching the mark of VND60,000 (US$2.55) a kilogramme, the highest in the past 15 years, in the Central Highlands provinces which are considered the country's "coffee capital".

Global and domestic coffee prices are at high levels, providing opportunities for Vietnam to maintain a coffee export revenue of over US$4 billion this year, a record set in 2022, while the global supply is narrowing down.