From late 2023 to April 2024, the global supply of Robusta coffee seemed to concentrate in Vietnam. This attracted numerous domestic and foreign investors, making the trading market more active than ever. Having a “market of its own” pushed coffee prices to continuously rise, hovering around 98,700 – 98,800 VND/kg. (Updated at 5:30 a.m. – April 3, 2024)
So, what are the main factors identified as causing fluctuations in domestic coffee prices?
First, coffee stockpiles from the 2022–2023 season were at their lowest compared with previous years, leading to a shortage in the 2023–2024 crop year.
Second, in many Robusta-growing regions, farmers shifted to cultivating fruit trees such as durian, macadamia, and passion fruit, which significantly reduced the coffee-growing area.
Third, the primary reason lies in the impact of climate change, which has caused severe drought. This situation threatens both current and future Robusta output, endangering yields and production in the upcoming harvests.