In July and August, the price of Vietnamese coffee is offering at $80 per tonne more than that listed on the London Commodity Exchange (LCE) for September.
The greater gap in prices is due to the sharp decrease in the amount of coffee in stock from the country’s harvest last year.
In the meantime, the total volume of coffee exports from Vietnam in July is estimated to drop to only half that in previous month.
According to the F.O. Licht International Coffee Report, the total yield of Vietnamese coffee in 2012-2013 could hit a record high of 23.7 million 60-kilogram bags compared to 22.7 million 60-kilogram bags for the current crop, which will be harvested in September.
The volume of Vietnamese coffee exports usually falls between July and September before the new crop harvest starts in October. It is expected to drop to 70,000-80,000 tonnes this month, equivalent to 1.17-1.33 million 60-kilogram bags.
The Volcafe Group says the regular rains in the large coffee plantations in Vietnam will help improve the country’s 2012-2013 crop. The US Department of Agriculture has predicted that Vietnam will produce 22.4 million 60-kilogram bags of coffee this season.