Coffee bean prices up on recovery signs

The buying price of coffee beans in the Central Highlands has over the past few days exceeded VND25,000 (US$1.40)/kg after staying at around VND24,000 ($1.30)/kg for a long time.

Authorities in Dak Lak Province Thursday said the price reached VND25,400/kg, an increase of VND1,000/kg from mid-April and more than VND2,000/kg from March.

Coffee bean prices in Gia Lai and Lam Dong provinces have also gone up by VND1,000-1,500/kg compared with one month ago.

According to many coffee exporters, the buying price of coffee beans in the domestic market has risen because the world coffee price has jumped from $1,430/ton in mid-March to $1,535/ton now.

Many traders feel coffee prices are rising because the global economy shows signs of recovering and it will be five months before the coffee harvest in Vietnam begins.

At this time last year, the coffee price in London was $2,311/ton and the local buying price reached VND33,800/kg.

Tran Ngoc Quyen

thanhnien

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