HANOI/BANDAR LAMPUNG, (Indonesia): Vietnam’s domestic coffee prices rose slightly on Thursday from a week earlier, with the Central Highland coffee crops unharmed in the aftermath of typhoon Yagi, while trading is expected to remain subdued until the harvest season next month.
Farmers in the Central Highlands, Vietnam’s largest coffee-growing area, sold beans for 121,000-121,500 dong ($4.93-$4.95) per kg, compared with 119,000-120,500 dong a week ago. Robusta coffee for November delivery settled up $111, or 2%, at $5,008 per metric ton, as of Wednesday’s close.
Typhoon Yagi, Asia’s most powerful storm this year, made landfall in northern Vietnam last weekend and created huge damage, but coffee trees in the Central Highlands were unharmed.
“London prices have gained significantly since the beginning of this week, partly due to news on typhoon Yagi and data from Vietnamese authorities on lower coffee exports,” a trader based in the coffee belt said.
Source: Brecorder
