HANOI: Rains in Vietnam’s Central Highlands, the world’s top robusta bean producer, continued to disrupt the coffee picking and drying process, traders said on Thursday, while premiums in Indonesia remained under pressure this week.
In the Central Highlands, farmers sold beans at 102,800 dong to 103,800 dong (USD3.90 to USD3.94) per kg, down from 110,500 dong to 111,500 dong a week ago.
“Farmers have harvested 50 percent-60 percent of their crops,” said a trader based in the coffee belt. “Beans have started to come, but the persistent rain is preventing farmers from drying them.”
Another trader said the rainfall may affect the quality, raising the share of dark beans. Robusta coffee for March delivery settled down USD7, at USD4,212 a metric ton on Wednesday.
A trader offered 5percent black and broken-grade 2 robusta at a discount of USD160 to USD170 per ton to the March LIFFE contract, while another quoted a deeper discount of USD200.
Indonesia’s Sumatra robusta coffee beans were offered at USD90 premium to the December contract, down from a premium of USD130 last week, one trader said.
Comments
Comments are closed for this article.