HANOI/BANDAR LAMPUNG: Domestic coffee prices continued to edge down in Vietnam this week amid muted activity as traders awaited new beans from upcoming crop, while in Indonesia, prices rose slightly on lower supplies, traders said on Thursday.
Farmers in the central highlands, Vietnam’s largest coffee-growing area, sold beans in the range of 63,900-64,700 dong ($2.66-$2.70) per kg, down from 64,900-66,600 dong a week ago. “Activities are muted now. We are waiting for new beans, which hopefully will come in late November or December,” said a trader based in the coffee belt.
“Everything goes well here as cherries are in good shape and the weather is favourable but as storm season is coming, we can not foretell anything.” November robusta coffee settled up $28 or 1%, at $2,402 as of Wednesday’s close while January contract settle up $19 at $2,324. Traders in Vietnam offered 5% black and broken-grade 2 robusta at a discount range of $3-$10 per tonne to the January contract.
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