HANOI: Domestic coffee prices in Vietnam edged higher on Thursday, tracking gains in global markets, while premiums for Indonesian beans were mixed at the start of the harvest. Farmers in the Central Highlands, Vietnam’s coffee belt, sold beans at 91,600 dong to 92,000 dong (USD3.48 to USD3.50), up from last week’s 89,000 dong to 89,500 dong
Robusta coffee for September delivery settled USD113 higher, or 3percent, at USD3,771 a ton, on Wednesday. “Some farmers have sold most of their stockpiles, tightening supplies in Vietnam, while coffee beans from Indonesia do not appear to be abundant either,” said a trader in the coffee belt.
Traders said farmers were not positive about the outlook for the upcoming crop. “This year’s irregular rainfall and extreme heat have increased fungal diseases, raising concerns about production. On top of that, irrigation costs have been sky-high,” a second trader said.