Vietnam coffee prices rise further

HANOI/BANDAR LAMPUNG, (Indonesia): Domestic coffee prices in Vietnam rose further this week on strong global prices, traders said on Thursday, while sales in Indonesia slowed as buyers wait for prices to stabilise.

Farmers in the Central Highlands, Vietnam’s largest coffee-growing region, sold beans for 127,500-128,200 dong ($5.03-$5.06) per kg, up from 114,800-115,300 dong last week. Robusta coffee for January delivery rose 1.3% to $5,175 per metric ton as of Wednesday’s close, after Arabica coffee futures hit a multi-decade peak.

“Domestic prices rose on tight supplies coupled with concerns about drought in the world’s largest producer, Brazil,” said a trader based in the coffee belt.