Vietnam Coffee Export Price Down 4 per cent at Decreased Sale
Price of Vietnamese robusta coffee decreased by 4 per cent last week while sales kept dropping as Vietnamese farmers are borrowing loans at lower interest rate to grow the crop, according to website of the Trade Information Center.
In Dak Lak province, the biggest coffee growing belt in Vietnam, the product is offered at only VND24,000/kilogram (US$1.41), down from VND25,000/kilo a week earlier.
A local trader said he has sold robusta coffee for only US$1,410/ton, FOB, down by US$30 from previous week.
Local traders said commercial banks in Dak Lak started lending farmers at lower interest rates according to the government’s stimulus program.
Vietnam is expected to harvest 16 million bags of coffee in the 2009-2010 crop, according to the Vietnam Cocoa and Coffee Association. (Vinanet)
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