HANOI, Feb. 13 (Xinhua) -- The coffee prices in Vietnam are soaring at an unprecedented pace, surpassing expert predictions and raising concerns over market speculation, Vietnam News Agency reported Thursday.
Coffee prices in the Central Highlands region climbed to 131,000 Vietnamese dong (5.1 U.S. dollars) per kilogram this week.
On the London exchange, Robusta coffee prices fluctuated between 5,573 dollars and 5,696 dollars per ton, while Arabica coffee on the New York exchange surged by 540 dollars, reaching 9,460 dollars per ton for the March 2025 contract.
Despite soaring prices, Vietnamese coffee farmers remain cautious about selling.
Vietnam News Agency cited Nguyen Thi Chien, a coffee grower in Kon Tum province, as saying that her family sold only one ton at 115,000 Vietnamese dong per kilogram, keeping the rest in storage in hopes of further gains.
Market volatility has left many farmers uncertain about the optimal time to sell.
Experts predict that strong prices will persist until July 2025, but warn farmers against excessive speculation to avoid financial risks. Enditem
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