HANOI: Coffee prices in Vietnam continued to inch up this week due to a scarcity of beans, while heavy rainfall in Indonesia likely hurt the growth of coffee cherries, traders said on Thursday.
Farmers in the Central Highlands, Vietnam’s largest coffee-growing region, sold beans at 121,000-123,000 dong ($4.59-$4.66) per kg, up from last week’s 107,000-110,000 dong, and the highest level since late-May.
“Domestic prices have increased significantly over the past week, although trade remains sluggish due to tight supply at the end of the harvest season,” said a trader based in the coffee belt. He added that the current weather is favourable for new trees.