Vietnam Prices Edge Higher As Lockdown In Coffee Belt Hits Supply
Vietnam’s domestic coffee prices edged higher this week as parts of the coffee-growing region remained under lockdown to curb the spread of the coronavirus outbreak, traders said on Thursday.
Farmers in the Central Highlands, Vietnam’s largest coffee-growing area, sold coffee <COFVN-DAK> at 33,000-33,500 dong ($1.42-$1.45) per kg, compared with 33,000-33,200 dong a week earlier.
“Domestic prices have gone up as anticipated, partly because of the fears over virus, and because of low stocks,” one of the traders based in the coffee belt said.
The 2019/20 crop season will end in September, with traders saying coffee trees were growing well and new beans would arrive in November.