Asian Coffee: Prices rise in Vietnam, unchanged in Indonesia before the holiday season

06/02/2018

Farmers in Dak Lak province offered coffee at 37,100 - 37,500 VND / kg (equivalent to 1.65 USD), slightly up from 37,000 to 37,100 VND / kg a week ago, according to the trend of the London market, the traders said.

March robusta coffee futures for March delivery rose to $ 1,771 a tonne, the highest level since Nov. 30, boosted by roasters bought by Vietnamese producers. South reduced sales before Lunar New Year.

Traders argue that the local price hike has encouraged farmers to sell their cash to cover the Lunar New Year, the largest of the year, in mid-February.

Second-grade robusta coffee, with 5% black and broken beans, was trading at $ 50 / tonne lower than the March contract on ICE, a week ago at $ 30- $ 45 a tonne .

This week, many contracts were secured as both supply and demand increased, albeit only moderately.

Vietnamese farmers are expected to sell out aggressively until February 10, before closing the holiday and returning to trading in early March.

In Indonesia, robusta grade 4 coffee, 80 bean flakes were offered at $ 160 a tonne higher than the March contract in London this week, unchanged in the past month, keeping the stock market down. , a trader in Lampung said. During the week there were some small transactions and the market is expected to remain quiet until small harvests in March and April.