Informing VTC News , Mr. Tran Trong Trang, General Director of Chiko Food Joint Stock Company, said that his company has just sent a notification to increase the selling price of coffee to long-term partners. This is the first time the company has had to increase the price of retail coffee products because the imported raw material prices are too expensive.
“Initially, when the price of raw coffee increased, we kept the price of finished coffee products the same because we thought it was only a temporary increase and the price would come down after a short time. However, up to now, the price of coffee has continued to increase, showing no signs of stopping, forcing us to consider increasing the price of finished products, otherwise we will not be able to survive because the losses are too great.” , Mr. Trang said.
Chiko Food’s announcement of a price increase for a range of coffee products.
Accordingly, 7 types of coffee and 1 type of cocoa powder have just been announced by Chiko Food to increase by VND 15,000 – 40,000/kg depending on the type. The two types of coffee with the highest price increase are 100% Espresso coffee and Nguyên moc coffee, both increasing by VND 40,000/kg.
The new price will be applied from May 1. “We always try to balance the interests of customers and partners to the utmost extent possible. Increasing the selling price of products is the last resort, when there is no other choice.” , said Mr. Trang.
Not only have the prices of finished coffee products been adjusted upwards, but the price of each cup of coffee made at stores has also become more expensive for customers.
Mr. Nguyen Phuc Thanh, Director of Gossip Vietnam Joint Stock Company, the operator of the Gossip coffee chain, said that many stores that are partners of Gossip have started to increase the selling price of this beverage. “A cup of coffee that used to be sold for VND 20,000 – 25,000/cup has now increased to VND 25,000 – 30,000 ,” said Mr. Thanh.
The price of brewed coffee at many stores has increased due to expensive raw materials.
However, according to Mr. Thanh, the increase in the retail price of coffee at stores is not only due to the expensive price of raw coffee, but also due to the impact of many other factors.
He analyzed: “The selling price of a cup of coffee is composed of many factors, including the cost of coffee beans, electricity and water, rent, labor… Of these, the cost of coffee beans accounts for more than 10%. Now, the increase in the price of raw coffee will impact more than 10% of the cost of making that cup of coffee, estimated at a few hundred dong.
Besides, the price of electricity, water, and rent have all increased, causing the total operating costs of the store to rise, forcing the owner to increase the selling price for balance. “.
Not only in restaurants, but the price of coffee sold on the streets of Hanoi has also increased. A coffee cart on Dai La Street (Hai Ba Trung District) has increased the price of salted coffee from VND 15,000/cup to VND 18,000/cup.
Salted coffee sold at street coffee carts has increased in price from VND 15,000 to VND 18,000/cup.
The seller said: “We use the most fragrant type of coffee to make salted coffee, and this type of raw material has increased in price, so we have no choice but to increase the selling price in order to make a profit. “.
Meanwhile, the owner of another coffee stand on Lo Duc Street (Hai Ba Trung District) admitted that the cups of coffee he is selling are slightly less than before.
“ The price of raw coffee is constantly increasing, so in order to make a profit, I have to be clever and meticulous when making coffee, saving and avoiding waste. I also want to increase the selling price so that I can make more coffee and have a surplus for both the seller and the buyer, but I am afraid of losing customers because they are too used to the price of street coffee at only VND 15,000/cup. If I increase the price, they will switch to buying from another place right away. I had to overcome this by selling a little less, but still ensuring quality to keep my customers.” , he explained.
The price of raw coffee in the country is still increasing strongly. Specifically, on April 29, in Lam Dong province, the three districts of Di Linh, Bao Loc, and Lam Ha traded coffee at the same price of VND 133,500/kg.
In Dak Lak, Cu M’gar district purchased coffee at VND 134,000/kg. Ea H’leo and Buon Ho districts are trading at VND 133,900/kg.
In Dak Nong province, traders purchased coffee at VND 134,200. In Gia Lai province, the price of raw coffee is VND 134,000/kg. The purchasing price of coffee in Kon Tum is VND 134,000/kg.
This is the highest price in history. Before the crop, businesses predicted that the highest coffee price would be VND 50,000/kg. But now the price has exceeded VND 130,000/kg.
According to experts, the main reason is that Vietnam’s inventory of coffee from the previous crop year is the lowest in history. In previous years, Vietnam always had an inventory of about 12
