HANOI/BANDAR LAMPUNG: Trading activities in Vietnam stayed dull this week with premiums remaining high as supply from the new season is not available until next month, traders said on Thursday.
Farmers in the central highlands, Vietnam’s largest coffee-growing area, were selling beans for 63,000-63,800 dong ($2.56-$2.60) per kg, higher than last week 62,000-63,000 dong range.
Sellers in Vietnam offered 5% black and broken-grade 2 robusta at $200-$400 premium range per metric ton to the January contract, unchanged from last week. Farmers have started picking some ripen beans, but supplies were still limited, traders said.
“Cherry-picking activities will only robust from next month,” one trader based in the coffee belt said. “Beans will come in bulk from mid-November.” As of now, the beans looked fine but quality at the point depends mostly on the weather, another trader said.
“Hopefully, the weather is sunny in the coming weeks,” the second trader said.
January robusta coffee settled up $15 or 1% at $2,335, as of Wednesday’s close. Indonesia’s Sumatra robusta coffee beans were offered at $580 premium to the January contract this week, a $100 increase compared to last week.
Another trader quoted $560 premium to the December contract, lower than the $540 premium a week ago due to “higher London prices amid limited supplies”.
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