Source:Best Coffee > News Author:qjroot Published:2024-04-23 17:42:07
Recently, in the international coffee market, prices for both Arabica and Robusta coffee have been rising. The reason is that Vietnam, the world’s second-largest coffee producer, has been severely affected by drought, leading to reduced Robusta production in the country and a decline in global coffee stocks.
Recently, according to a report from the Vietnam National Center for Hydro-Meteorological Forecasting, a level-two drought warning has been issued for five provinces: Quang Tri, Quang Ngai, Binh Thuan, Phu Yen, and Gia Lai. These provinces have also been warned of possible natural disasters.
In addition to reduced rainfall, river water levels in the central region have been rising slowly, with some rivers dropping to historically low levels. For example, the Sông Vu Gia River in Quảng Nam Province recorded a water level of just 1.41 meters, the lowest ever, while the Sông Thu Bồn (Autumn Basin River) in the same province measured 0.47 meters, 0.09 meters below its minimum level.
Moreover, due to low and irregular rainfall in multiple regions, which remain in a state of drought, many lakes and streams have also dried up, leading to a shortage of irrigation water.According to data released by the Vietnam Coffee - Cocoa Association, coffee production in some areas may be reduced by as much as 30% - 50%. It is predicted that coffee production may decrease by 20% compared with the previous year's 1.84 million tons, and exports will also decline by 20% from the 1.67 million tons in the same period last year.
In addition, such high prices have put local traders in a dilemma, as they face losses if selling prices do not rise, but raising prices too much may cause them to lose customers and reduce sales volume.
Related Reading
Comments (0)
Loading comments...
You May Be Interested
Trending Reviews
Popular Videos
With you, wherever you are! We provide useful features to help you find new things you'll love
