Coffee Export Price Remains High

Coffee Export Price Remains High

The price of coffee from Vietnam, the world’s largest robusta coffee exporter, on the global market has remained high, despite a drop in the cost of raw coffee beans domestically over last week, the Ministry of Trade said.

The price of robusta coffee has stood high at US$1,100 per ton in international trading, up roughly 67 per cent from that of last year. Meanwhile, the price of arabica coffee remained steady at US$2,965 per ton, up 48 per cent from last year, the ministry said.

In the last couple of days, the prices of coffee from several Asian countries have increased by US$50 per ton.

Meanwhile, the price of coffee beans in the central highlands province of Dak Lak, Vietnam's largest coffee growing area, showed last week a slight downturn of robusta coffee to around VND17,600-18,000 a kilo, on June 21, losing VND2,000 a kilo against early this month after witnessing an eight year hike.

Vietnam shipped around 423,000 tons of coffee worth US$311 million in the first five months of this year, down 13.2 per cent on-year in volume and 4.5 per cent on-year in value, according to the Government Office Statistics.

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