According to the Vietnam Coffee and Cocoa Association (Vicofa), from the beginning of the crop, the country has exported about 1.3 million tons of coffee, and the stock of under 50 thousand tons, this crop will certainly Lack of serious cargo, since in fact it must be mid November in the harvest. The amount of goods on the market is lacking, forcing customers to enter the floor to get, because many foreign contracts are needed to buy but not available. Therefore, the general trend is from now until the end of the year the price must be up but to what extent depends on the demand in the market. In addition, information Brazil needs to import Robusta coffee for the roasting industry and instant coffee, because last year’s Brazilian Robusta coffee was reduced by about 40% of its production.
Mr. Do Ha Nam, vice president of Vicofa cum General Director of Intimex Group, said: “The current price of coffee beans in the Central Highlands provinces has increased by 1,000 VND / kg, fluctuating at 44,300 – 45,100 VND / kg. The volatility is mainly due to investors trading on the exchange pushed up prices, but on the trend due to the lack of goods, so the market price is still required. Expectations, London trading floor can pass the price of $ 2,200 / ton. Even though Vietnamese coffee has been badly harvested, it can be considered as a favorable year due to the decrease in global coffee production, especially the crop failure in Brazil, which is the main factor affecting coffee prices. Global rise “
On the world market, last week session, London trading floor Robusta coffee increased strongly. September futures added $ 54 to $ 2,116 a tonne. The November delivery was up $ 47 to $ 2,101 a tonne and the January contract rose $ 33 to $ 2,066 a tonne. Trading volume above average.
(According to thuongtruong.com.vn)
