Asia coffee: Vietnam market upbeat post holidays

HANOI: Vietnam’s domestic coffee market was upbeat this week, boosted by higher supply and demand after a week-long holiday, while discounts widened in Indonesia on higher London prices, traders said on Thursday.

Markets in Vietnam and Indonesia were closed last week for the Lunar New Year holidays. Farmers in the Central Highlands, Vietnam’s largest coffee-growing region, sold beans at 129,500-130,500 dong ($5.14-$5.18) per kg. The prices were at 121,500-122,500 dong before the holidays.

LIFFE robusta coffee for March settled up $98 at $5,646 per metric ton, as of Wednesday’s close. “The market is upbeat as farmers have started to sell as they fear prices would drop,” a trader based in the coffee belt said, adding demand was also healthy.