Coffee prices shoot up

Vietnamese coffee’s prestige enhanced in the world

The increase was much lower than the price in the London terminal market, coffee buyers in HCM City said.

Exporters in Dak Lak Province offered Robusta grade 1 with 0.2 percent foreign matter, one of the top qualities in Vietnam, at US$70 per tonne above the level on the London terminal market.

HCM City-based exporters said the FOB price of grade 2 with 5 percent black and broken and 1 percent foreign matter was around US$50 per tonne below the terminal market price, US$20-30 higher than last week.

Based on the closing price of the London terminal market on June 9, the FOB price for grade 2 with 5 percent black and broken was around US$2,460 per tonne.

Traders and exporters estimate output to be above 1.1 million tonnes. Farmers also expect output to be a bit higher due to the higher productivity.