HANOI: Robusta coffee prices in Vietnam edged lower this week amid subdued demand and dwindling stockpiles at the end of the crop season, while Indonesian robusta premiums were mixed, traders said on Thursday.
Farmers in the Central Highlands, Vietnam’s coffee belt, sold beans at 96,300 dong to 97,000 dong (USD3.69 to USD3.72), down from last week’s 98,300 dong to 99,000 dong range. November robusta coffee futures settled down USD25, at USD3,752 per metric ton on Wednesday.
“Some farmers in Lam Dong and Gia Lai are expecting output from the upcoming crop to fall by about 20percent due to dry weather in parts of the region that hampered irrigation, while excessive rainfall in some other areas has led to insect infestations,” a trader based in the coffee belt said.
“Farmers have sold most of their stocks. Only a few tons are left,” the trader added. One trader offered 90,000 dong per kg for coffee to be delivered in December, while another quoted 93,000 dong per kg for the same delivery period.
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