HANOI: Robusta coffee prices in Vietnam were little changed this week amid subdued trading ahead of the new harvest season, which officially begins next week, while premiums in Indonesia were mixed, traders said on Thursday.
Farmers in the Central Highlands, Vietnam’s coffee belt, sold beans at 92,000 dong to 93,000 dong (USD3.54 to USD3.58) per kg, down from last week’s 93,000 dong to 93,500 dong range.
Robusta coffee LRCc2 gained 1.7percent to USD3,317 a metric ton after slumping to a 3-1/2-month low of USD3,218 on Wednesday. “Healthy supplies from Brazil and steadily rising exports from Vietnam are putting pressure on robusta prices,” said a trader based in the Central Highlands.
Another trader said market activity remained subdued as participants awaited supplies from the upcoming crop.
Traders offered 5percent black and broken-grade 2 robusta at a premium of USD200 per metric ton to the November LIFFE contract. In Indonesia, the premium on Sumatra robusta coffee beans to October shipments dropped to USD180 from USD230 last week, a trader said.
Another trader quoted a USD280 premium to the November contract, up from USD250 last week.
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