HANOI/BANDAR LAMPUNG, (Indonesia): Vietnamese coffee prices inched up further this week amid concerns around supplies of the next crop due to a lack of water for irrigation in the growing areas, while the Indonesian market was closed for holidays, traders said on Thursday.
Farmers in the central highlands, Vietnam’s largest coffee-growing area, were selling beans for 105,000-105,900 dong ($4.20-$4.24) per kg, up from 101,200-103,000 dong range a week ago.
“Farmers are under no pressure to sell beans especially amid a potential drought that may deepen the shortage,” said a trader based in the coffee belt. Traders offered 5% black and broken-grade 2 robusta at a premium of $600 per ton to the July contract.
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