Asia coffee: Trade remains quiet in Vietnam, supplies build up in Indonesia

HANOI/BANDAR LAMPUNG, (Indonesia): Trading activity in Vietnam remained sluggish amid low supplies and high asking prices, while premiums fell in Indonesia as supplies are building up there, traders said on Thursday.

Farmers in the Central Highlands, Vietnam’s largest coffee-growing area, were selling beans for 127,000-127,700 dong ($5.00-$5.02) per kg, unchanged from last week. “It is four months away until the next harvest however there is not much coffee left,” said a trader based in the coffee belt.

“Trade is very tepid as no one is keen to buy at this high price.” Traders offered 5% black and broken-grade 2 robusta at a premium of $500 per metric ton to the September contract. “At the moment, I don’t think domestic prices can surpass the 135,000 dong per kg mark.