AIRLINK 196.38 Increased By ▲ 4.54 (2.37%)
BOP 10.11 Increased By ▲ 0.24 (2.43%)
CNERGY 7.75 Increased By ▲ 0.08 (1.04%)
FCCL 38.10 Increased By ▲ 0.24 (0.63%)
FFL 15.74 Decreased By ▼ -0.02 (-0.13%)
FLYNG 24.54 Decreased By ▼ -0.77 (-3.04%)
HUBC 130.38 Increased By ▲ 0.21 (0.16%)
HUMNL 13.73 Increased By ▲ 0.14 (1.03%)
KEL 4.60 Decreased By ▼ -0.07 (-1.5%)
KOSM 6.19 Decreased By ▼ -0.02 (-0.32%)
MLCF 44.85 Increased By ▲ 0.56 (1.26%)
OGDC 206.51 Decreased By ▼ -0.36 (-0.17%)
PACE 6.58 Increased By ▲ 0.02 (0.3%)
PAEL 39.77 Decreased By ▼ -0.78 (-1.92%)
PIAHCLA 17.20 Decreased By ▼ -0.39 (-2.22%)
PIBTL 7.99 Decreased By ▼ -0.08 (-0.99%)
POWER 9.20 Decreased By ▼ -0.04 (-0.43%)
PPL 178.91 Increased By ▲ 0.35 (0.2%)
PRL 38.93 Decreased By ▼ -0.15 (-0.38%)
PTC 24.31 Increased By ▲ 0.17 (0.7%)
SEARL 109.27 Increased By ▲ 1.42 (1.32%)
SILK 1.00 Increased By ▲ 0.03 (3.09%)
SSGC 37.75 Decreased By ▼ -1.36 (-3.48%)
SYM 18.83 Decreased By ▼ -0.29 (-1.52%)
TELE 8.53 Decreased By ▼ -0.07 (-0.81%)
TPLP 12.14 Decreased By ▼ -0.23 (-1.86%)
TRG 64.76 Decreased By ▼ -1.25 (-1.89%)
WAVESAPP 12.11 Decreased By ▼ -0.67 (-5.24%)
WTL 1.64 Decreased By ▼ -0.06 (-3.53%)
YOUW 3.87 Decreased By ▼ -0.08 (-2.03%)
BR100 12,000 Increased By 69.2 (0.58%)
BR30 35,548 Decreased By -112 (-0.31%)
KSE100 114,256 Increased By 1049.3 (0.93%)
KSE30 35,870 Increased By 304.3 (0.86%)

HANOI: Vietnam’s domestic coffee prices edged up on Thursday from a week earlier on a supplies crunch while in Indonesia premiums extended gains due to poor output from the current harvest.

Farmers in Vietnam sold beans at 55,200 dong to 57,500 dong ($2.35 to $2.45) per kilogram, higher than last week’s 53,200 dong-54,200 dong range. July robusta coffee gained $101 over the past week, settling at $2,582 as of Wednesday’s close, the highest level in 12 years, Refinitiv Eikon data showed.

Some traders said Wednesday’s close even hit a 16-year high. “It’s very hard to buy beans in Asia now to fulfil signed contracts. Prices are too high, together with that, supplies are limited,” said an exporter based in Ho Chi Minh City.

Export prices flipped to premiums this week due to subdued activities and empty stocks, according to traders.

Traders in Vietnam offered 5% black and broken-grade 2 robusta at a premium of $150-$160 per tonne to the July contract. Indonesia’s Sumatra robusta coffee beans were offered at a $140 premium to the July contract, compared with last week’s $60 premium.

“Prices rose from last week because beans supply was limited due to small harvests,” said a trader based in the region. “Some areas have started harvesting but yields are not large.”

Another trader offered a $170 to $200 premium range to the July-August contract, compared with last week’s $100 premium to the May-June contract. “Limited supplies caused exporters to fight for beans and pushed local prices to rise more than global prices,” the second trader said.

Comments

Comments are closed.