Coffee prices continue to rise sharply

After the Lunar New Year festival (Tet), coffee prices continued to increase, exceeding VND41,000 per kilogram, a record high for over four years.

According to businesses dealing in coffee in Dak Lak province, coffee purchase became busier because they had to complete their orders after the Tet holidays.

However, the amount of remaining coffee for sale was not high.

The price of the coffee bean is VND40,400 – 40,600 per kilogram, an increase of more than VND10,000 compared to the beginning of the season, R1C coffee is currently sold at VND41,000 per kilogram and the R1A at VND41,200 per kilogram.

Tran Trong Luu, an official from the Dak Lak Department of Industry and Trade, said the coffee stock was only about 30,000 tonnes, accounting for 10 percent of the province’s total coffee mass.

Although coffee prices were high, many farmers did not sell because they expected a higher price, he said.

In January, Dak Lak exported about 30,000 tonnes of coffee. – VOV

Tags: Vietnam Coffee, Vietnam coffee prices