Coffee, pepper, cacao prices in rise in Dak Lak

The price of coffee, pepper and cacao in the Tay Nguyen (Central Highlands) province of Dak Lak has increased by 20-60 per cent over the last month after more than two years of decline, according to the province’s Department of Industry and Trade.

The price of pepper is now VND60,000 a kg; fermented cacao, VND58,000 a kg; and coffee, VND29,200–30,200 a kg.

Several export companies, however, have not been able to buy coffee because many farmers in Ea H’Leo, Krong Nang, Cu M’Gar and Buon Ho districts sold their product in advance to traders before it was harvested.

Nguyen Tan Quang, chairman of Dak Lak Province Alliance of Co-operatives, said most farmers in the rural and remote areas of Ea H’Leo had sold their coffee before harvesting, with prices of VND18,000-19,000 a kg, to have money to buy fertilisers, fuel and pesticides.

The price of coffee, pepper and cacao could continue to increase, according to export companies.

Dak Lak Province authorities have asked Government agencies to help farmers by promoting trade and providing up-to-date market forecasts. — VNS

Tags: Vietnam cacao prices, Vietnam Coffee, Vietnam coffee prices, Vietnam Pepper prices