Vietnam coffee prices edge up
Farmers in the Central Highlands, Vietnam's largest coffee-growing region, sold beans at 95,700-96,200 dong ($3.66-$3.68) per kilogram, up from last week's 91,600-92,500 dong.
'Farmers refrain from selling as they want to hold their beans until prices are at least above 10,000 dong per kg,' a trader based in Dak Lak province said.
Traders noted slow sales as many buyers bought beans from Indonesia and Brazil at more competitive prices.
'The harvest in Vietnam will begin from October so I don't think farmers can hold for much longer,' the trader said.
The ongoing floods triggered by tropical storm Wipha are not affecting coffee farms, they added.
'No coffee farms are affected by floods and the rain is actually good for the farms as the coffee beans are in the growing stage,' another trader based in Dak Lak said.
Robusta coffee last traded at $3,300 a metric ton. Traders offered 5% black and broken-grade 2 robusta with a $200-$400 premium to the September LIFFE contract, widening from $130-$160 last week.
In Indonesia, where a harvest is underway, Sumatra robusta coffee beans for September/October contract were offered at a $160 premium, compared with last week's $150 premium for August-September contract. Another trader said the beans were offered at $150 premium for November contract.
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Business Recorder
3 days ago
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Vietnam coffee prices edge up
HANOI: Domestic coffee prices in Vietnam on Thursday rose slightly from a week ago, with farmers there and in Indonesia hesitant to sell their beans as they wait for prices to rise further. Farmers in the Central Highlands, Vietnam's largest coffee-growing region, sold beans at 95,700-96,200 dong ($3.66-$3.68) per kilogram, up from last week's 91,600-92,500 dong. 'Farmers refrain from selling as they want to hold their beans until prices are at least above 10,000 dong per kg,' a trader based in Dak Lak province said. Traders noted slow sales as many buyers bought beans from Indonesia and Brazil at more competitive prices. 'The harvest in Vietnam will begin from October so I don't think farmers can hold for much longer,' the trader said. The ongoing floods triggered by tropical storm Wipha are not affecting coffee farms, they added. 'No coffee farms are affected by floods and the rain is actually good for the farms as the coffee beans are in the growing stage,' another trader based in Dak Lak said. Robusta coffee last traded at $3,300 a metric ton. Traders offered 5% black and broken-grade 2 robusta with a $200-$400 premium to the September LIFFE contract, widening from $130-$160 last week. In Indonesia, where a harvest is underway, Sumatra robusta coffee beans for September/October contract were offered at a $160 premium, compared with last week's $150 premium for August-September contract. Another trader said the beans were offered at $150 premium for November contract.
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Vietnam coffee prices flat on week, premiums fall in Indonesia
HANOI: Vietnam's domestic coffee prices were flat this week, as low stocks and rising supplies from other producers impacted trading activity, while premiums fell in Indonesia following global cues, traders said on Thursday. Farmers in the Central Highlands, Vietnam's largest coffee-growing region, sold beans at 94,700-95,200 dong ($3.62-$3.64) per kg, little changed from last week's 94,500-95,000 dong range. Rising supply of beans from Indonesia and Brazil were weighing on prices. The US administration on Wednesday said it closed a trade deal with Vietnam that includes a 20% tariff on goods coming to the United States. 'It is a relief for all exporters, although the US is not Vietnamese beans' main destination,' said a trader based in the coffee belt. LIFFE robusta coffee settled down $58, or 2%, at $3,602 per metric ton on Wednesday. Another trader based in the region said activities remained quiet as most market participants were taking cautious steps. Traders offered 5% black and broken-grade 2 robusta in the range of $70-$80 per ton premium to the September LIFFE contract. In Indonesia, Sumatra robusta coffee bean exports in May were 34,056.2 tons, up 137% on a monthly basis, data from the local trade office showed earlier this week.
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HANOI: Domestic coffee prices in Vietnam dropped below the 100,000 dong per kg milestone this week, pressured by a sharp decline in global prices and sluggish trading activity due to limited supplies, traders said on Thursday. Farmers in the Central Highlands, Vietnam's largest coffee-growing region, sold beans at 94,500-95,000 dong ($3.62-$3.64) per kg, down from last week's 103,000-103,500 dong range. LIFFE robusta coffee hit a fresh one-year low of $3,524 a metric ton as of Wednesday's close, down by 4%, according to data compiled by LSEG. 'There is no factor that can support the price at the moment,' said a trader based in the coffee belt. 'Some farmers haven't sold all of their stocks yet. Given the current prices, it is very unlikely that they will release the remaining beans.' The United States Department of Agriculture, in a report this week, projected that global production will grow by 4.3 million 60-kg bags from the previous season to a record 178.7 million bags, while consumption is estimated at a new peak of 169.4 million bags. Traders offered 5% black and broken-grade 2 robusta in the range of $140-$165 per-ton premium to the September LIFFE contract, compared with last week's $109-$129 premium range. In Indonesia, Sumatra Robusta coffee beans were offered at $330 premium this week to the September contract, compared with $235 premium last week as 'an adjustment to the sharp fall on London terminal,' one trader said.
