HANOI: Coffee prices in Vietnam rose this week on concerns over heavy rain from storms ahead of the harvest, traders said on Thursday, although coffee plants suffered no harm from Typhoon Bualoi that swept through the country’s northern region.
In the Central Highlands, Vietnam’s largest coffee-growing region, farmers sold beans at 116,000 dong to 117,000 dong (USD4.40-USD4.43) per kg, compared with last week’s range of 114,000 dong to 114,500 dong.
Robusta coffee for January delivery settled up USD202, or 5percent, at USD4,388 a metric ton on Wednesday.
“Concern about weather conditions in the coffee growing area is one of the reasons driving London prices,” said a trader based in the coffee belt. “A storm has formed in the South China Sea and is approaching Vietnam.