Raw coffee price highest in last three years

Currently, the price of raw coffee in the Central Highland provinces has increased to its highest level in the last three years.

               Price of raw coffee reached the highest level in the last three year. - Photo internet

This was revealed by the Ministry of Agriculture and Rural Development's Agro, Forestry and Fishery Processing and Salt Industry.

The price surged by VND1,100-1,300 per kg of raw coffee to VND44,300-44,800, the department said.

Meanwhile, free on board (FOB) price for Vietnamese export Robusta coffee at Sai Gon Port also jumped by US$88 per tonne to $2,043. The higher price has boosted enterprises' efforts to sell their coffee. Some 200,000 tonnes of Vietnamese coffee in the 2016-17 crop was sold in markets at home and abroad.

The ministry said in the first 10 months of this year, Viet Nam exported 121,000 tonnes of coffee, earning $246 million. The exports had a year-on-year increase of 40.2 per cent in volume and 25.4 per cent in value.

Germany and the United States were the two largest export markets for Vietnamese coffee in the first nine months, accounting for 15.2 per cent and 13.2 per cent, respectively, of total exports.

During the first nine months, export markets witnessed strong growth in value, including the Philippines (74.3 per cent), Algeria (59.7 per cent), China (56.3 per cent) and the United States (45.3 per cent), as well as Germany (37.4 per cent), Italy (17.9 per cent) and Japan (15.4 per cent), the ministry said.

Source VNS