HANOI: Vietnam could export 85,000 to 100,000 tonnes (1.42 million to 1.67 million bags) of coffee this month, below shipments in January due to a long holiday and widespread domestic hoarding, traders said on Tuesday.
"At current prices farmers are not selling," said a trader at a European company in Ho Chi Minh City.
Robusta eased to 39,000-40,100 dong ($1.83-$1.88) per kg on Tuesday in Daklak, Vietnam's top growing province, from 39,600-40,200 a week ago, tracking the ICE futures market where May robusta ended down 0.3 percent at $1,948 a tonne on Monday.
Last month Vietnam's coffee exports, which are closely monitored by traders, fell 14.4 percent from a year ago to an estimated 120,000 tonnes, the government has said.
The country is the world's largest producer of the robusta bean, often used to make instant coffee powder.
Vietnam will shut all markets from Feb. 14-23 to mark Tet, or the Lunar New Year festival.
Comments
Comments are closed.