Rising global demand coupled with limited supply continues to drive up prices for rice and durian, while coffee prices reach record highs.

Since the start of the year, both domestic and international coffee markets have been witnessing successive peaks in prices.

As of February 17th, the cost of one kilogram of raw coffee reached VND80,100 (US$3.26), marking a record increase of VND1,400 from the previous day.

Vietnam’s rice export price has maintained its peak at $640 per ton, matching last year’s high.

Vietnamese durian prices surged by 20% compared to the end of 2023.

Businesses are seeking to procure monthong, a Thai durian variety also cultivated in Vietnam, at VND200,000 per kilogram, mirroring the peak price observed a year ago.

Last year, businesses nearly depleted their warehouses for exports, marking the first instance in history where, by June 2023, coffee stocks were depleted.

A report from the Ministry of Agriculture and Rural Development anticipates fluctuating commodity prices throughout the year.

In January, prices of various products experienced an uptrend compared to November. Notably, coffee prices rose by 4-9%, rice by over 6%, mangoes by 8%, raw shrimp by 4%, and raw fish by up to 6.7%.

The ministry aims to achieve a total export turnover of agricultural, forestry, and fishery products between $54-55 billion.