After the price of coffee on London-UK increased by 87-91 USD/ton, to 5447-5591 USD/ton, the price of domestic coffee in the morning of March 26 also increased by an average of 1,800 VND/kg, to an average of 135,500 VND/kg.
According to the update of Giacaphe.com, the website specializes in updating coffee prices operated by Y5 Coffee Co., Ltd. based in Lam Dong, domestic coffee prices have officially exceeded the historical threshold of 135,000 VND/kg.
Domestic coffee prices today record the record of 135,500 VND/kg – Source Giacaphe.com
Talking to the reporter, a number of coffee purchasing agents in the Central Highlands said that although the coffee quotation was high, the purchase was still difficult, many farmers continued to wait for the price to rise.
Ms. Nguyen Thi Hien, a farmer in Kon Tum province, said that from the morning, she received many phone calls from the dealer when the price was rising but she had no intention of selling.
“About 1 month ago, my family sold 1 batch of 6 tons of coffee for 133,000 VND/kg so I still do not need money. The family still has about 8 tons of coffee waiting to see how the price is and continue,” Hien said.
Domestic coffee prices are at a record level
Currently, the Central Highlands is hotter than the years, many coffee gardens lack irrigation water, forecasting next year’s output will not be abundant, so most farmers predict that coffee prices will still stand at a high level, so they do not rush to sell.
Mr. Thai Nhu Hiep, Vice Chairman of Vietnam Coffee – Cocoa Association (Vicofa), Chairman of Vinh Hiep Co., Ltd., a leading coffee export enterprise in Vietnam, said that when coffee prices around 130,000 VND/kg as the farmers have stopped selling. This forces shopping houses to push prices up to buy goods.
“With the way of regulating the coffee market of Vietnamese farmers like this crop, the upcoming coffee price can reach 140,000, even 150,000 VND/kg” – Mr. Hiep forecast.
