Steady global prices and sufficient supply of beans led to a slight rise in Indonesia's coffee premiums, while trade was slow in Vietnam as the harvest season drew to a close, traders said on Thursday. Premiums of Indonesian beans grade 4, 80 defects ranged between $50 to $60 a tonne this week for September contract, compared with $10-$50 last week, traders said, adding that prices are still fluctuating, but not as volatile as last week.
Indonesia's exports of coffee beans are expected to slip by between 5 percent and 10 percent this year from around 400,000 tonnes in 2015, the Association of Indonesian Coffee Exporters and Industries said on Thursday. ICE September contract rose 0.05 percent to $1,827 per tonne on Wednesday, while the November contract edged up 0.1 percent to $1,853 per tonne.
Robusta grade 2, 5 percent black and broken, in Vietnam, the world's top robusta producers were quoted at discounts of $15-$20 a tonne to ICE November contract. Vietnamese traders have started to track ICE November contract from August. Vietnamese farmers, however, held back selling as local prices edged down after global falls in the previous sessions, to around 39,000 dong ($1.75) per kilogramme in Daklak, the country's largest-growing province, from over 40,000 dong earlier, said Phan Hung Anh of Daklak-based Anh Minh Co.
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