Vietnam's coffee prices on the rise

By VNA June 5, 2024 | 06:06 pm PT

Coffee fruits being harvested in the Central Highlands province of Kon Tum. Photo by VnExpress/Huynh Phuong

Coffee prices continued to rise sharply, ranging from VND122,000 - 123,500 (US$4.8-4.86) per kilogram in the Central Highlands, Vietnam's largest coffee growing area.

Accordingly, the highest price was reported in Dak Nong province, at VND123,500 per kilogram on June 5.

In Dak Lak province, coffee prices increased by VND3,000 per kilogram compared to June 4 to reach VND123,000 per kilogram. The product is being purchased at the same price in Gia Lai and Kon Tum.

The weakening of the U.S. dollar to its lowest level in the past two weeks, and speculative activities in many countries worldwide, among other factors, are driving up the prices of most commodities, including coffee.

The prices of Robusta coffee in London have seen significant increases, hovering around US$3,846-4,319 per tonne. Arabica coffee prices in New York have also experienced the rising trend.

In addition to Brazil, other countries such as Colombia, Peru, and Honduras are in the coffee harvest season, with a slight increase in production but it is still lower than the market demand, leading to a continued upward trend in coffee prices.