Coffee prices hit 12 month high

Illustrative image (Source: VNA)

 Hanoi (VNA) – The prices of green robusta coffee beans in the Central Highlands have risen to 37.6- 38.3 million VND (1,671-1,702 USD) per tonne this week, up according to the Ministry of Agriculture and Rural Development. 

The prices at one time reach 38.9 million (1,729 USD) per tonne, the highest since June 29, 2015, in Dak Lak province. 

Meanwhile, the freight on board (FOB) price of robusta coffee in Ho Chi Minh City gained 24 USD per tonne, to 1,756 USD per tonne. 

The rising trend was buoyed by the global price hike last week due to concerns over the prolonged drought’s impact on coffee harvest in Vietnam and India, two among the world’s top robusta coffee producers. 

According to the Ministry of Agriculture and Rural Development, coffee exports of Vietnam, the world's largest robusta coffee exporter, reached an estimated 1.32 million tonnes in the first nine months of the 2015-16 crop year ending September, up 32 percent from a year earlier.-VNA