Vietnam trade quiet amid holidays, rain hampers harvest
HANOI: Coffee trading activity in Vietnam continued to be quiet on Thursday amid the holidays, while the ongoing harvest in the country’s main growing area is being hampered by unusual rains. Farmers in the Central Highlands, Vietnam’s largest coffee-growing region, sold beans for around 122,500 dong ($4.82) per kg, compared with 122,500-124,000 dong a week ago.
Traders said rains in the Central Highlands are affecting the ongoing harvest as farmers can’t dry their newly harvested beans. “There are still 20%-30% of the beans left on the coffee plants, but farmers are unable to pick them,” another trader based in the area said, adding that the rain is expected to affect the quality of the beans. Robusta coffee settled up 09.7% higher at $5,041 per metric ton as of Tuesday’s close, ahead of the holidays. Traders offered 5% black and broken-grade 2 robusta at a discount of $100-$150 to the March contract. Indonesian markets were closed on Thursday for public holidays.
Source: Brecorder
