Coffee prices top VND35,800/kg

The domestic coffee prices hit the highest level in 2010 of between VND35,600-VND35,800/kg in Vietnam’s highland provinces

The domestic coffee prices hit the highest level in 2010 of between VND35,600-VND35,800/kg in Vietnam’s highland provinces , the online newspaper DVT reported on December 18,citing local farmers.

Vietnam has biggest Robusta coffee output in the world. Therefore, the domestic coffee prices are likely to be affected by the world price changes.

The prices of Robusta coffee (FOB prices at Ho Chi Minh City Port) increased between $33-$35 per ton to between $1,838-$1,850 per ton from the last week.

Earlier, the Vietnam Coffee and Cacao Association (VCCA) attributed the coffee price hike to the increasing demand in the world market while heavy rain caused crop damage in Vietnam, the second biggest coffee exporter.

The country’s coffee output is forecast to fall 20% to 1.1 billion ton in the 2010-2011 crop, Vicofa predicted. – Stoxplus.com

Tags: Vietnam coffee prices