Domestic coffee prices hit 2-year high

The prices of domestic coffee hit a two-year high at VND32,200/kg in Vietnam’s highland provinces, the Vietnam Coffee and Cocao Association (Vicofa) said.

In details, the average price of coffee bean increased two times in the last two days to VND31,500/kg in the highland area. While R2B and R1C coffee was sold at VND31,800/kg and VND32,200/kg, respectively in Dak Lak province, the coffee hub of the country.

Vicofa 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 coffee contract delivered in the coming months rose by between $52-$63 per ton at the London International Financial Futures and Options Exchange. – Stoxplus.com

Tags: Vietnam Coffee, Vietnam coffee prices

Posted by VBN on Oct 22 2010. 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