Vietnam: Domestic coffee price up by VND300-400 per kilo

Vietnam: Domestic coffee price up by VND300-400 per kilo
04-08-2009

The domestic price of coffee on July 31 rose by VND300-400 per kilogram to VND25,500-25,600 per kilo as a result of soaring world coffee prices.

On July 31 alone, the price of coffee on the world market rose by US$14 per tonne, returning to the level of over US$1,504 per tonne. This means that in the last week alone, world coffee prices increased by a total of US$30 per tonne.

In the meantime, the domestic market has remained rather quiet as many speculators don’t want to sell coffee products for fear of short supplies and low profits.

In the first 7 months this year, Vietnam exported about 790,000 tonnes with a turnover of US$1.2 billion, according to the Vietnam Coffee and Cocoa Association.