Vietnam’s coffee prices on the rise
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Coffee prices continued to rise sharply, ranging from VND122,000 – 123,500 (US$4.8-4.86) per kilogram in the Central Highlands, Vietnam’s largest coffee growing area.
Accordingly, the highest price was reported in Dak Nong province, at VND123,500 per kilogram on June 5.
In Dak Lak province, coffee prices increased by VND3,000 per kilogram compared to June 4 to reach VND123,000 per kilogram. The product is being purchased at the same price in Gia Lai and Kon Tum.
The weakening of the U.S. dollar to its lowest level in the past two weeks, and speculative activities in many countries worldwide, among other factors, are driving up the prices of most commodities, including coffee.
The prices of Robusta coffee in London have seen significant increases, hovering around US$3,846-4,319 per tonne. Arabica coffee prices in New York have also experienced the rising trend.
In addition to Brazil, other countries such as Colombia, Peru, and Honduras are in the coffee harvest season. Although production has slightly increased, it is still lower than market demand, leading to a continued upward trend in coffee prices.
Questions & Answers
Q.What is the highest coffee price reported in Vietnam's Central Highlands and where was it recorded?
What is the highest coffee price reported in Vietnam's Central Highlands and where was it recorded?
The highest price reported in Vietnam's Central Highlands was VND123,500 per kilogram. This price was recorded in Dak Nong province on June 5, demonstrating the current upward trend in the region.
Q.What factors are contributing to the rise in commodity prices, including coffee?
What factors are contributing to the rise in commodity prices, including coffee?
Several factors are driving up commodity prices. These include the weakening of the U.S. Dollar to its lowest level in two weeks, and speculative activities occurring in many countries worldwide. These influences affect various goods, not just coffee.
Q.Are coffee prices increasing in international markets as well as in Vietnam?
Are coffee prices increasing in international markets as well as in Vietnam?
Yes, coffee prices are also increasing in international markets. Robusta coffee prices in London have seen significant rises, and Arabica coffee prices in New York have also experienced an upward trend recently.
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