Coffee prices in the Central Highland region increase again

Coffee prices in the Central Highland region on March 26 rose by VND600-800 per kilogram compared to one week ago.

In Dak Lak and Dak Nong Provinces, the price of coffee only reached VND24,300 per kilogram, up VND1,000 per kilogram against last week. According to the forecasts of many coffee export businesses, the prices will continue to rise in the next 2 months.

In London, the price of coffee on the world market on March 26 increased by US$55 per tonne to US$1,342 per tonne.

According to experts, the cause of the sharp rise in coffee prices is the proposal by the Vietnam Coffee and Cocoa Association that the Government buy 200,000 tonnes of coffee for reserves this year.

Buying for reserves has a great influence on the balance of supply and demand on the world’s coffee transaction floors because Vietnam is one of leading countries exporting coffee Robusta.

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