Vietnamese domestic coffee prices were marginally lower on Thursday from a week earlier, with trading activity expected to remain muted until the next harvest that will begin in October. Farmers in the Central Highlands sold coffee at 34,500-35,000 dong ($1.49-$1.51) per kg on Thursday, compared with 35,000 dong from a week ago.
"There are virtually no transactions now," said a trader based in the Central Highlands, Vietnam's largest coffee growing area. Another trader said the baby cherries of the new harvest are growing well with sufficient rainfall. Traders in Vietnam offered 5% black and broken grade 2 robusta at a $90 per tonne premium to the September contract. September robusta coffee settled down $6, or 0.4%, at $1,430 per tonne on Wednesday.
On Wednesday, some coffee producers from around the world met in Brazil to discuss the economic sustainability of coffee production. Vietnam did not attend the meeting, but Luong Van Tu, chairman of Vietnam Coffee and Cocoa Association, said on Thursday Vietnam supported the idea of forming an association of coffee producers.
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