According to the Vietnam Coffee and Cocoa Association, coffee exports in November and December 2021 will reach about 130 thousand tons per month. If the current high price is maintained, it can bring in another 600 million USD in the last 2 months of the year, bringing the whole year coffee turnover back to the 3 billion USD threshold.
With supply disruptions from Vietnam and Brazil and too high logistics costs, world coffee prices forecasted to continue to rise sharply in the near future. In addition, Christmas and year-end holidays in countries around the world are approaching, at the same time, restaurants and hotels are reopened, which helps boost coffee demand.
These are two solid factors that will help support world coffee prices to increase in the coming time. However, the unstable factors caused by the COVID-19 pandemic led to difficulties in traffic activities, buying and selling raw coffee. This is also considered a factor creating resistance to coffee prices in the coming time.
As the price of coffee has decreased continuously for many years and stopped at a low level, it is not advisable for farmers and businesses to invest in intensive farming and fertilizing. Many farmers have intercropped durian, avocado and other trees in their coffee gardens. After 1-2 years, coffee becomes a secondary crop and is neglected because of higher income from other intercropping crops. This year, when the price of green coffee increases, many people are thinking of returning to fertilize coffee trees.