Việt Nam's coffee prices on the rise
Việt Nam's coffee prices on the rise
Coffee prices continued to rise sharply on June 5, ranging from VNĐ122,000 - VNĐ123,500 (US$4.8-$4.86) per kilogramme in the Central Highlands – the largest coffee growing area in the country.
Farmers harvest coffee in Đắk Lắk. — VNA/VNS Photo |
Accordingly, the highest price was reported in Đắk Nông province, at VNĐ123,500 per kilogramme.
In Đắk Lắk Province, coffee prices increased by VNĐ3,000 per kg compared to Tuesday to reach VNĐ123,000 per kg. The product is being purchased at the same price in Gia Lai and Kon Tum.
The weakening of the US 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 $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, with a slight increase in production but it is still lower than the market demand, leading to a continued upward trend in coffee prices.
