Coffee prices inch up on lower stocks

The price of exported Robusta coffee has increased US$10-15 compared with the last two weeks, reaching around US$680-690 a tonne (spot delivery f.o.b. at Saigon Harbour). The purchase price in Dak Lak reached 10,000 dong a kilogram, increasing 200 dong over last week.

This increase is because of a scarcity of Robusta coffee supply explained coffee traders. It is estimated that the total amount of coffee in stock held by farmers and traders is around 70,000-80,000 tonnes that will be exported in September and October this year.

Coffee exports in the last four months are expected to reach 201,000 tonnes, 50,000 tonnes a month on average, down about 6,000 tonnes a month compared with the first eight months because of lower than expected coffee yields this year.

 

Category: Business