June 05, 2024 | 19:54 (GMT+7)
Vietnam's coffee prices on the rise
Coffee prices continued to rise sharply on June 5, ranging from 122,000 - 123,500 VND (4.8-4.86 USD) per kilogram in the Central Highlands – the largest coffee growing area in the country.
Accordingly, the highest price was reported in Dak Nong province, at 123,500 VND/kg.
In Dak Lak province, coffee prices increased by 3,000 VND per kg compared to June 4 to reach 123,000 VND/kg. The product is being purchased at the same price in Gia Lai and Kon Tum.
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(Photo for illustration: thoibaotaichinhvietnam.vn) |
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 3,846 USD - 4,319 USD per ton. 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.
Source: VNA