Vietnam coffee prices ease on higher supplies

HANOI: Coffee prices in Vietnam fell this week as farmers released more beans on fears of further declines, while fresh supplies from Indonesia began entering the market as growers sold ahead of the Eid al-Fitr festival, traders said on Thursday.

Farmers in the Central Highlands, Vietnam’s coffee belt, sold beans at 91,000 dong to 93,000 dong (USD3.47 to USD3.55) per kg, down from 95,500 dong to 96,500 dong last week. “A number of farmers have begun releasing more beans on fears that prices could fall further due to the Middle East conflict and fresh supplies from Indonesia,” a trader in the coffee belt said, adding that rising fertilizer and pesticide costs were adding pressure on growers.