Specifically, the coffee price on April 5 in Dak Nong and Dak Lak provinces was VND103,000 a kg while it was VND102,800 per kg in Gia Lai and Kon Tum provinces.
This price increased compared to the previous day by an average of about VND1,000 a kg. The increase in coffee prices followed the continuously increasing world prices this week. For instance, the price of robusta coffee on the London coffee exchange, and sales of the agricultural products increased by US$149. It was traded at $3,812 a ton.
In the New York market, the price of Arabica coffee for May delivery saw an additional increase of $128.7 to $4,489 a ton. Previously, many people expected that when the coffee prices in the country reached VND100,000 a kg, they would sell it to earn profits.
However, in recent days when the price has been above VND100,000 a kg, many people were confused about whether to sell or continue to keep higher prices.
Many coffee holders even expect the market to reach a new milestone of VND120,000 a kg.
Farmers and traders who are keeping a large amount of coffee are expecting that record-breaking rally for coffee prices could have further room to run to VND120,000 per kg.
