Vietnam Coffee Prices Sharply Rise Since mid-May
Coffee prices have sharply increased in Vietnam since mid-May, surpassing the VND25,000-per-kilo mark as a result of soaring global prices, according to the Vietnam Coffee and Cocoa Association (Vicofa) as saying.
In central highlands Dak Lak province, one of the biggest coffee growing provinces in Vietnam, a kilo of coffee is currently standing at VND25,100, Vicofa said.
The export price of coffee, meanwhile, is now offered at US$1,420 per ton in HCM City transaction floor.
In late April, the association predicted that export prices of Vietnamese coffee would reach US$1,450-US$1,460/ton this month, up US$15/ton from the first quarter of 2009. Such price, however, is still down 33 per cent from the same period of last year.
Vietnam, the world’s biggest robusta coffee exporter, is expected to export 950,000 tons of coffee this year, raking in US$1.76 billion, down 8.6 per cent and 17.4 per cent on-year, respectively. (Vietnam Economic Times)
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