HANOI: Trading activity in Vietnam’s coffee market continued on a subdued note on empty stockpile, while prices in Indonesia were slightly lower this week as the situation became more stable, traders said on Thursday.
Farmers in the central highlands, Vietnam’s largest coffee-growing area, sold beans at 66,200 dong to 67,100 dong ($2.80 to $2.84) per kg, compared to last week’s 64,800 to 65,600 dong range.
“Beans are so scarce now that they are enough for small purchases of local roasters only. It’s impossible for exporters to buy now,” said a trader based in the coffee belt. “But the prices are sky high.
Some roasters had to buy beans at over 70,000 dong per kg.” November robusta coffee settled down $148 at $2,480, as of Wednesday’s close, the lowest level since mid-May, Refinitiv Eikon data showed.
Another trader also based in the region said traders had started to offer 56,000 dong per kg for fresh beans of 2023/24 crop season delivered in December. In Indonesia, Sumatra robusta coffee beans were offered at $500 premium to the September contract this week, down from $530 premium last week as the condition now is more stable, according to one traders.
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