HANOI/BANDAR LAMPUNG: Domestic coffee prices in Vietnam narrowed this week on rising supplies as the 2020-21 harvest picked up pace, while trade in Indonesia remained subdued due to depleted stocks, traders said on Thursday. Farmers in the Central Highlands, the country's coffee-growing capital, sold coffee at 32,700-33,400 dong ($1.42-$1.44) per kg, compared with the 33,000-33,500 dong last week. "Beans from Vietnam are expected to increase over the coming weeks. Farmers are speeding up their harvest as the weather is more favourable now," said a trader based in the Central Highlands.
The quality of beans from the 2020-21 crop, however, is not as high as the previous ones, another trader based in the same region said. March robusta coffee settled down $24, or 2%, at $1,364 per tonne on Wednesday. Traders in Vietnam offered 5% black and broken grade 2 robusta at premiums of $100 per tonne to the March contract, compared with last week's $70-$80 premium range. Vietnam exported 70,000 tonnes of coffee in November, down 37.5% from a year earlier, government data showed.
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