Robusta coffee beans prices of Robusta coffee beans in Vietnam continue to rise
According to Simexco, coffee production in Vietnam is expected to decrease by 10 to 27 million bags compared with the 30 million bags produced by 2020 Lexi 22. The decline in production means that the price of robusta coffee beans in Vietnam will continue to rise.
According to foreign media reports, the price of Vietnamese curry rose from 3.18 to 32300 dong per kilogram last week to 3.21 to 32800 dong.
A Vietnamese coffee trader said: "the 5% black and broken grade 2 Robusta beans they offer are at a premium of $50 to $60 over the May futures contract, $10 to $20 higher than a week ago. However, because the price does not meet the expected prices of farmers, there is not much coffee traded on the market this week, so there is room for the price of Vietnamese coffee beans to rise in the future.
According to Bloomberg, "as of March 10, Vietnam has sold 60% of the total production of Robusta 2020swap 21, the same pace as the same period last year."
If the price of Vietnamese coffee remains at 33100 dong / kg (current price level), sales are expected to reach 83 per cent by June. But if the price rises to 34000-35000 dong / kg, then there is a chance to sell out Vietnam 2020prime 21 seasonal coffee beans in April or May.
* Image source: Internet
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