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Thursday, October 6, 2022

Asia Coffee: Vietnam shipments drop on tight supplies

HANOI/BANDAR LAMPUNG: Vietnam coffee prices on Thursday stayed unchanged from a week ago, traders said, as coffee exports from the country declined due to tight supplies.

Vietnam’s coffee exports in the first half of July were 58,365 tonnes, down from 67,580 tonnes in the second half of June, government customs data showed. Farmers in the Central Highlands, Vietnam’s largest coffee-growing area, sold coffee at 44,000-44,500 dong ($1.88-$1.90) per kg.

“Coffee growers have almost sold out their beans and there have been very few transactions recently,” a trader based in the Central Highlands province of Dak Lak said. Traders said domestic supplies won’t increase until the end of this year when the new harvest in the Central Highlands begins. London September robusta coffee was stable at $1,998 a tonne on Wednesday.

In Indonesia’s Lampung province, one trader offered $60-$70 discount to the September contract for Sumatran robusta beans this week, compared with last week’s $90-$100 discount.

Another trader offered $140 discount to the September contract this week, compared with last week’s $150 discount.

Asia Coffee: Vietnam shipments drop on tight supplies

Source: Brecorder

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