VIETNAM – Domestic coffee prices up on soaring futures prices

MILAN – The domestic price of coffee on July 31 rose by VND300-400 per kilogram to VND25,500-25,600 per kilo as a result of soaring world coffee prices, report trade sources.

In the meantime, the domestic market has remained rather quiet as many speculators don’t want to sell coffee products for fear of short supplies and low profits.

In the first 7 months this year, Vietnam exported about 790,000 tonnes with a turnover of US$1.2 billion, according to data from the Vietnam Coffee and Cocoa Association (Vicofa).