BANGKOK: Coffee trading in Vietnam remained subdued, with sales slowing as stocks dwindled at the end of the crop year, while Indonesian supplies were abundant amid the harvest season, traders said.
Farmers in the Central Highlands, Vietnam’s largest coffee-growing area, sold coffee at 37,800-39,500 dong ($1.66-$1.73) per kg, compared with last week’s 36,500-38,000 dong range.
Dak Lak province, the coffee supplier hub, will implement social distancing in some parts of the province starting from 1800 (1100 GMT) on Thursday to curb the spread of the coronavirus, according to the government.
However traders said at the end of the crop season, this curb would not have much impact on trading activities. “A few small transactions took place the past weeks,” said a trader based in Dak Lak province. “Activity is expected to remain subdued till October at least when fresh beans start to come.”
London prices on Wednesday settled up $2 at $1,973 per tonne.
Traders in Vietnam offered 5% black and broken grade 2 robusta at discounts of $180-$200 per tonne to the November contract, compared with a $160 discount last week.
Meanwhile, Indonesia’s Sumatra robusta beans were offered at a $150 discount to the November contract, compared with a $100 discount last week, because of high prices in the London terminal.
Comments
Comments are closed for this article.