Vietnam’s Coffee Output Forecast to Drop 15 per cent this Crop
Vietnam’s coffee output will drop 15 per cent in this crop to around 950,000 tons, the Labor newspaper reported, citing an official from the Vietnam Cocoa and Coffee Association (Vicofa).
Prolonged rains during the time coffee trees flowing and harvesting time are the major reason for the output decrease, the official said.
Some 20 per cent of old and stunted coffee trees in central highlands Dak Lak and Lam Dong provinces is also blamed for the low output.
The Vicofa said coffee prices have decreased in the past days in the central highlands following the fall in London market.
The Vicofa March 10 offered their Robusta coffee for only VND23,600/kilo March 10 in Dak Lak and Lam Dong; and VND23,500/kilo in Gia Lai, down by VND900-VND1,200/kilo from last week.
Meanwhile, local companies bought the coffee at VND23,300-VND23,500/kilo, the lowest prices over the past three months.
Export price of Vietnamese coffee was only US$1,460/ton at London market, down by US$41/ton. (The Labor, Saigon Liberation)
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