HANOI/BANDAR LAMPUNG: Vietnam's domestic coffee prices edged higher this week as parts of the coffee-growing region remained under lockdown to curb the spread of the coronavirus outbreak, traders said on Thursday.
Farmers in the Central Highlands, Vietnam's largest coffee-growing area, sold coffee at 33,000-33,500 dong ($1.42-$1.45) per kg, compared with 33,000-33,200 dong a week earlier.
"Domestic prices have gone up as anticipated, partly because of the fears over virus, and because of low stocks," one of the traders based in the coffee belt said.
The 2019/20 crop season will end in September, with traders saying coffee trees were growing well and new beans would arrive in November.
Traders in Vietnam offered 5% black and broken grade 2 robusta at a $70 premium per tonne to the November contract.
The premium was $130 per tonne to the September contract.
November robusta coffee settled down $24, or 2%, at $1,362 per tonne on Wednesday.
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