Domestic coffee prices have risen sharply in Vietnam to VND5 million per ton, compared to a month ago, due to limited global supplies. 
 

Coffee prices in the Central Highland Provinces rose VND4,000 per kilogram last week as compared to the week before.

Dak Lak Province saw prices touch VND40,700 per kilogram and in Gia Lai and Kon Tum Provinces they reached VND40,300 per kilogram.

Coffee prices in the Central Highland Provinces increased steadily for the last eight consecutive days.

Vietnam is the second largest producer of coffee after Brazil and with limited global supplies, domestic coffee prices could surge further by year end to VND55 million- 60 million ($2,680-$2,924), said the Agriculture Ministry.

However, traders in Ho Chi Minh City fear that Vietnamese farmers and exporters may take advantage of the high prices and hold on to the present crop.

Farmers in the Central Highland Provinces have already harvested 30 percent of their total coffee crop of this season.

Sai Gon Giai Phong Newspaper