HANOI: Vietnam’s domestic coffee prices rose on Thursday as trading activities resumed after a week-long Lunar New Year holiday, while premiums in Indonesia eased with farmers expecting a mini harvest to take place in April or after the Eid ul-Fitr festival.
Farmers in the Central Highlands, Vietnam’s coffee belt, sold beans at 96,500 dong to 97,500 dong (USD3.70 to USD3.74) per kg, higher than the 94,300 to 95,600 dong range pre-holiday. Robusta coffee for May delivery settled up USD63, or 2percent higher, at USD3,703 a ton on Wednesday.
“Activities picked up after the holiday, but farmers are still not selling in bulk as they are still betting on higher prices,” said a trader based in the coffee belt. Another trader noted that the weather was favourable, with ample water for the trees.
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