The price of coffee in Central Highland provinces fell by VND1,000 a kilo over the past 10 days to VND23,500 a kilo on January 23 as farmers sold coffee to pay debts and expenditures ahead of the Tet (lunar New Year) holiday, which falls on February 14 this year.
Global prices dropped dramatically to US$1,345 a ton on January 23 after a slight recovery. Coffee prices climbed to $1,400 a ton 10 days ago in London.
Prices declined as demand fell while investors favored the greenback over the commodity.
