On May 8, domestic average coffee prices fell to VND95,700 per kilo, down by VND4,100 per kilo compared to yesterday's prices and by over VND35,000 compared to the record prices in late April.

London Robusta Coffee Futures prices continued to sharply fall by USD152-165 per tonne.

A coffee exporter in the Central Highlands said there were fewer transactions due to the large fluctuations in global coffee prices.

"Exporters have only agreed deals signed since the beginning of the season," he said. "In April, Vietnamese firms exported 126,466 tonnes of Robusta coffee, earning nearly USD 452.60 million. As 80 percent of coffee output in Vietnam is for export, the higher prices in the domestic market have shown an unstable market.

Vietnam Coffee and Cocoa Association Chairman Nguyen Nam Hai pointed out four reasons for the falling coffee prices, including the end of the impact of the El Nino weather phenomenon at coffee plantation areas in Brazil and Vietnam; the coffee crop in Brazil starting in May; and the high levels of coffee speculation that had led to recent high supply.

The Ministry of Agriculture and Rural Development reported that Vietnam exported 756,000 tonnes of coffee, earning nearly USD2.57 billion in the first four months, up 5.40 percent in volume and 57.90 percent in value compared to the same period last year.