Video

News

Coffee prices up by 21 % , the highest level since 2010

( 18-01-2016 - 03:39 PM ) - View: 518

Coffee prices up by 21 % in 2014, its highest level since 2010, after the price drop last year for Vietnam reached a record harvest of 1.7 million tonnes .
And Cocoa Association Vietnam Coffee ( Vicofa ) predicted in May 3-2014, drought will pull off next season 's output .
Agricultural meteorologist at Gaithersburg Donald Keeney said: "Until next week, do not predict volume loss significantly and will likely continue to fall further if a prolonged drought . However , in 11-15 rain day will be noticeable and can improve the situation a bit . "
Coffee prices on the NYSE Liffe futures down 1.1 % at 21-3 days $ 2,014 / ton, its lowest level since the day 27-2 . On 12-3 , the price hitting $ 2,218 / ton, the highest level since May 10-2012, because Vietnam farmers selling deceleration and damaging dry season production in Brazil .
Bloomberg survey released Tuesday showed 17-3 for the week ending Friday 7-3 , stockpile coffee farms in Vietnam has reached record levels.
However, expert meteorologist David Streit at CWG said that "Vietnam Farm is still dry in the regular season , with extremely modest rainfall . Fact coffee is often "break" in this season should impact is not significant."
" Aridity in time this is normal and does not affect the young coffee trees. But if the heat continued , this problem will become more difficult ," said Huynh Quoc Thich , deputy Director of the Department of Agriculture and Rural Development Dak Lak .
6-3 Vicofa said yesterday: " Drought or " flu coffee " in the Central Highlands and Son La Province frost will cause output decreased significantly in 2014-2015 compared with the same period last year."
Price of coffee in Dak Lak 20-3 down 2 % today while 1.9 USD / kg, 35 % higher than the floor 3 months was 1.4 USD / kg at the time of the month 11-2013. Dak Lak accounts for about 30 % of Vietnam's coffee output .

 

Other News

0084.994.858.444