The coffee price on the Central Highland provinces reached VND40,200 per kilogram on February 4, up VND1,000 compared to the days before Tet and a record price for recent years.

The price of robusta coffee in the London market was US$2,239 per tonne on February 3, the highest since the beginning of this year, and this made the world coffee market hotter.

In Vietnam, coffee buying and purchasing were delayed because farmers are taking time off for the Tet holiday. This impacted the coffee exchange in London and partly contributed to raising the price.

Entrepreneurs said the record high price of coffee, along with the farmers’ expectation of a higher price will make the coffee supply scarce, while the exporters’ demand remains high, thereby raising the price of coffee.

Feb 5^th, 2011

Source: vneconomynews.com

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