HANOI/ BANDAR LAMPUNG, (Indonesia): Trading activities remained tepid in Vietnam as traders and buyers await new supplies from the next harvest season, traders said on Thursday, while in Indonesia premiums were down as an adjustment to the rising London price this week.
Farmers in the Central Highlands, Vietnam’s largest coffee-growing area, were selling beans for 119,000-120,500 dong ($4.81-$4.87) per kg, compared with last week’s 120,600-121,600 dong range.
“Both supplies and demands are dull at the moment,” said a trader based in the coffee belt.
“Activities will not pick up until November.” Traders said heavy rains hit several parts of the Central Highlands but traders based in the region said rains did not harm the crops. Robusta coffee for November delivery settled up $202 or 4%, at $4,912 per ton as of Wednesday’s close.
Traders offered 5% black and broken-grade 2 robusta at a premium of $20-$50 per ton to the November contract, unchanged from a week ago. In Indonesia, Sumatra robusta coffee beans were offered at $220 premium to the September/October contract, down from last week’s $265 premium to the September contract, a trader said.
Another trader quoted $200 premium to the November contract, which is also a drop from last week “to adjust prices with London prices”.
Indonesia shipped 17,431.3 metric tons of Sumatra robusta coffee beans in July, a 13.4% increase from the same month a year ago, data from local trade office showed. On a monthly basis, the export volume surged by 140% compared to the 7,252.1 tons exported in June.
Source: Brecorder
