Huy Hung Coffee Company
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Vietnam coffee price ranks the second in the world

TUEsday - 08/11/2011 16:25
Buckets of green coffee prices had reached 31 million Vietnam dong per ton on 30/9/2008 in Dac Lac - local accounts for one third of the total coffee output for the whole country.

 

Buckets of green coffee prices had reached 31 million Vietnam dong per ton on 30/9/2008 in Dak Lak - local accounts for one third of the total coffee output for the whole country.

Reuters reported, coffee prices in Vietnam on 29/9, climbed to its highest level for 2 years, follow-up on the world market. However, trading activity is expected to remain quiet until the end of November by offering export restrictions in order to avoid losses related to weather.

Price of robusta coffee bucket yesterday reached 30.9 million tons, equivalent to $ 1,589 per ton in Dak Lak, compared with 30.4 to 30.5 million by day 28 / 9. Vietnam's coffee production is the second largest in the world after Brazil.

Strong momentum of domestic market oriented mainly on the London market in November when the term session 28/9 at $1,766 per ton, up 30 USD compared to the previous session, and the price of arabica coffee with session largest increase within 1 percentage point per month.

Green bean prices had reached 31 million VND per ton on 30/9/2008 in Dac Lac - local accounts for one third of the total coffee output for the whole country.

The export of Vietnam has started selling a new crop of coffee in 2010/11, but trading activity is limited by many who were concerned price fluctuations.

Exporters said they want to avoid problems related to delays or defaults in the first quarter of 2010, as what happened last year when many companies have signed contracts in late 2009 for the period near term but can not buy local goods when prices rise.

In the 2010 - 2011 crop year beginning in October, the coffee harvest activities in Dak Lak is expected to begin in late October or early November if the rain did not last.

Expected this year, Vietnam's coffee production reached 1.08 million tons, 18 million bags, up 2.5% compared to 2009.

 Hang Nguyen

 

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