HANOI: Robusta coffee prices in Vietnam were little changed this week amid thin trading at the end of the harvest season, while premiums for Indonesian robusta rose, traders said on Thursday.
Farmers in the Central Highlands, Vietnam’s coffee belt, sold beans at 97,200 dong to 97,700 dong (USD3.72 to USD3.74) per kg, compared with last week’s 96,300 dong to 97,000 dong range.
November robusta coffee futures settled down USD11, at USD3,728 per metric ton on Wednesday. “Trade is very tepid during this time every year. Most farmers have sold out their stockpiles, while there are not many looking to buy now,” said a trader based in the coffee-growing region.
“It is still too early to talk about the quality of the upcoming crop, but so far the cherries look fine,” the trader added. One trader offered 91,000 dong per kg for coffee to be delivered in December, while another quoted 93,500 dong to 94,000 dong per kg for the same delivery period.
In Indonesia, Sumatra robusta beans were offered at a premium of USD250 to the November contract this week, up from a premium of USD160 last week for the same delivery period, a trader said.
Another trader said beans were offered at a premium of USD175 to the September contract, compared with a premium of USD85 last week for the same period. Coffee farmers in Lampung said weather conditions remained favourable this week for the development of cherries for the next crop.
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