Coffee prices hit five-year high

(ĐN)- The price of coffee beans in Dong Nai province has moved up to VND48,500 – VND49,000 per kilo, the highest level for five years. The price of coffee in the province was up from VND 6,500 to VND 7,000 per kilo compared with the beginning of the year.

The rise in the price of coffee locally is due to bad weather lowering expected yields on coffee plants.

Lower coffee yields are expected in 2011 in major coffee growing countries including Brazil and Indonesia due to unfavorable weather conditions.

At present, Dong Nai has nearly 18,0000 hectares of coffee-trees in bearing and the province is expected to have an average yield of around 1.9 tonnes per hectare this year. The coffee harvesting season is expected to begin at the beginning of August. Yet, some coffee farms in the provivnce are ready for harvest.

Reported by K.M