기타 Coffee prices bounce back

[청석]

Coffee prices bounce back
12 Nov 2005


Dealers said first class Robusta coffee, from previous Dak Lak and Buon Me Thuot crops was priced at VND15, 600 per kilo this morning, while new crop coffee is VND14, 700 per kilo on average, with better grades VND300-500 higher.



Coffee prices have seen an average increase of VND3, 000 per kilo compared to the deepest low in September at VND11, 200 per kilo. One of the reasons is the speculation of foreign funds, and higher global prices.



The two biggest coffee producers, Lam Dong and Dak Lak, say that despite higher prices it is still difficult to purchase coffee from farmers and dealers, as they continue to push prices higher. Industry experts say coffee prices will witness further increases as the world supply dwindles.



According to the Ministry of Trade, the total turnover from coffee export was $44mil in October, an increase of $7mil over September, equating to a total turnover of $588mil for the first ten months of the year, an increase of 10% compared to the same period last year.

(Source: vietnamtradepoint.com)