Coffee prices hit 12 month high
The prices of green robusta coffee beans in the Central Highlands have risen to VND37.6- 38.3 million (US$1,671-1,702) per tonne this week, up according to the Ministry of Agriculture and Rural Development.
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The prices at one time reach VND38.9 million (US$1,729) per tonne, the highest since June 29, 2015, in Dak Lak province.
Meanwhile, the freight on board (FOB) price of robusta coffee in Ho Chi Minh City gained US$24 per tonne, to US$1,756 per tonne.
The rising trend was buoyed by the global price hike last week due to concerns over the prolonged drought’s impact on coffee harvest in Vietnam and India, two among the world’s top robusta coffee producers.
According to the Ministry of Agriculture and Rural Development, coffee exports of Vietnam, the world's largest robusta coffee exporter, reached an estimated 1.32 million tonnes in the first nine months of the 2015-16 crop year ending September, up 32% from a year earlier.
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