Retail in Asia

In Sectors

Vietnamese coffee prices drop 2 percent

Vietnamese coffee prices dropped around 2 percent on Friday following a fall in London robusta futures and the failure of an industry meeting to kickstart a plan to stockpile a fifth of the country’s crop, traders said. The price of robusta beans in Vietnam’s top growing province of Dak Lak fell 2.2 percent to VND22,700 (USD1.21) per kilogramme from VND23,200 (USD1.24) on Thursday.

Farmers have been holding back beans in the hope that further gains were possible after prices picked up a little from recent lows.