Vietnam coffee-loading to rise, prices At 30-Mth high

Coffee exports from Vietnam are picking up this month due to ample supply at the end of the harvest, but 30-month high prices this week have prompted farmers to slow their sales, traders said on Tuesday.

Farmers ended the harvest in most of the Central Highlands coffee belt last week, about two weeks earlier than usual, to save on labor costs and to protect beans from thieves.

Traders estimated coffee loading this month at 110,000 to 140,000 tons, near last month’s level, while prices have jumped 7.7 percent in the past month to 37.6-37.8 million dong ($1,928-1,939) a ton, the highest since July 3, 2008.

Prices stood at 38 million dong a ton in Daklak, Vietnam’s key growing province, on July 3, 2008.

“The export volume this month could rise as supported by higher prices and good supply,” said a Vietnamese trader at a foreign company in Ho Chi Minh City.- Reuters

Tags: vietnam coffee exports

Posted by VBN on Jan 4 2011. Filed under Agriculture. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry