The average price of exported coffee during January-May was nearly 2,300 USD per ton, up 2.4% over the same period last year. This means coffee export revenue will be high in the rest of the year.
In the Central Highlands region, the major coffee pr𝄹oduction hub o📖f Vietnam, coffee prices saw a strong rise last week and hit a record in three months.
The rise in coffee prices was attributed to a shortage in supply as a result of extreme weather conditions. In 2023, coffee output is predicted to fall 10-15%, while demands for the product is still high.
Under a project developed by the Ministry of Agriculture and Rural Development, the area of specialty coffee in Vietnam is expected to account for 2% of the total, with an output of 5,000 𓄧tons by 2025. The figures are hoped to increase to 3% and 11,000 tons, respectively, in 2030./🉐.
