HANOI: Domestic prices in Vietnam inched up from a week earlier, tracking a rebound in Robusta futures on ICE, even as trading remained sluggish with farmers and exporters cautious over logistics risks amid uncertainties from the Iran war. Farmers in the Central Highlands, Vietnam’s coffee belt, sold beans at 93,000 dong to 94,000 dong (USD3.54 to USD3.57) per kg, up from last week’s 91,000 dong to 93,000 dong.
Robusta coffee for May delivery settled up USD52, or 1percent, at USD3,579 a ton on Wednesday. “Prices have risen over the past three days but remain below the level at which farmers are willing to sell,” said a trader based in the coffee belt.
The trader added that fertilizer prices had increased significantly but no shortages had been reported, although farmers were using fertilizers more strategically to reduce consumption. “Prices are still below 2022 levels, when the Russia-Ukraine conflict first broke out, but farmers are using fertilizers very sparingly,” he said. Traders offered 5percent black and broken-grade 2 robusta at a premium of USD50 to USD60 per ton to the May LIFFE contract.
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