Coffee prices rise, business is still quiet
There has not been another coffee export contract of Vietnamese enterprises during the past two weeks, although the price of coffee in the world market has increased by 10-12 USD / ton. Pham Dinh Tue, Deputy Director of Viet Duc Coffee Company, the largest coffee enterprise in Dak Lak, said that the Government and the Coffee Association require all member enterprises not to sign more contracts. Exporting coffee and setting a floor export price of Robusta Robusta at US $ 450 / ton from December 17, 2000 has helped to reduce the situation of domestic enterprises massively lowering prices to export in two last week. At the same time, this measure has also contributed to significantly increase the price of coffee in the market. Currently, the export price of coffee in London market was at 647USD / ton, up 10-12USD compared to the beginning of last week. However, according to an official of the Vietnam Coffee Association, the ban continued to be effective and during the last two weeks, no new coffee export contracts were signed. Currently, while the Government is considering funding to help coffee exporters to store an additional 90,000 tons of coffee, the government in Dak Lak has decided to help businesses in the province reserve 20,000 tons of coffee.