HANOI/BANDAR LAMPUNG: Vietnam coffee prices edged up slightly amid sluggish trade ahead of the week-long Lunar New Year holiday, while prices remained steady in Indonesia on thin supplies, traders said on Thursday.
Farmers in the Central Highlands, Vietnam’s largest coffee-growing area, sold beans at 38,900 dong to 41,100 dong($1.66-$1.75) per kilogramme, slightly up from last week’s range of 38,400 dong to 40,100 dong/kg. March robusta futures on ICE settled up $7, at $1,902 per tonne as of Wednesday’s close.
“Market is dull as farmers have already entered the holiday mood. They have cashed in enough for the past week,” said a trader based in the coffee belt. “If the prices post-holiday are not attractive enough, bean supplies will be tight as farmers are no longer under pressure to sell.”
Traders in Vietnam offered 5% black and broken-grade 2 robusta at a discount of $90 per tonne to the May contract.
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