Vietnam's domestic coffee prices continued to pick up after a rebound in London prices, and as cherry picking is not yet in full swing, traders said on Thursday.
Farmers in the Central Highlands, Vietnam's largest coffee-growing area, sold coffee at 33,000 dong ($1.42) per kg on Thursday, compared with a range of 31,800-32,600 dong last week.
"Domestic prices inched higher this week following the increase in global prices," a Vietnam-based trader said.
January robusta coffee settled up $13, or 0.97%, at $1,352 per tonne on Wednesday, its highest intra-day level since Aug. 16, Refinitiv Eikon data showed.
Farmers have started to pick cherries but not on a large scale, since only about a quarter of the crop has fully ripened, another trader based in the region said.
"The slow harvest may delay the bean flow for shipments," the trader said. "This crop's beans are smaller than previously thought."
Traders expect fresh beans to start arriving in bulk from late November as the harvest peaks.
Traders in Vietnam offered 5% black and broken grade 2 robusta at a $110-$120 premium per tonne to the January contract on Thursday, widening from $80-$100 last week.
Meanwhile, Indonesia's grade 4 defect 80 robusta beans were offered at premiums of $240 to January contract, down from $270 premium last week.
The premium was unchanged from last week at $250-$260 to January contract, another trader said.
Trade in Indonesia remained very light as bean supply depletes.
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