Prices of Vietnamese coffee dropped this week following cues from London while Indonesia was quiet with no deals sealed for want of supplies, traders said on Thursday. Coffee prices in Daklak, Vietnam's largest growing province, decreased to 44,500-45,000 dong ($1.96-$1.98) per kg from 47,600 dong last Thursday, in line with a fall in the ICE May contract. The contract extended its decline into a fifth session on Wednesday, shedding a combined 5.4 percent.
Vietnamese robusta grade 2, 5 percent black and broken was quoted at discounts of $65-$70 per tonne to the May contract, nearly unchanged from $60-$70 a week ago. "The market is less bustle as both sellers and buyers want to wait and see," said a coffee trader in Ho Chi Minh City.
The Southeast Asian nation is expected to produce 24.5 million bags of coffee in the 2016-2017 crop year ending September, a recent Reuters poll showed. Meanwhile, in Lampung, Indonesia's main coffee growing area, there was no new trade as there was no supply. Some traders even left for vacation due to low activities, traders said.
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