HANOI: Prices of Vietnamese coffee rose this week tracking cues from London while Indonesia was quiet with few deals sealed due to a surge in coronavirus cases and post-holiday sentiment, traders said on Thursday.
Farmers in the Central Highlands, Vietnam’s largest coffee-growing area, sold coffee at 40,500-42,000 dong($1.78-$1.84), up from last week’s 39,900-40,600 dong range.
London prices settled up $9, or 0.4%, at $2,274 per tonne on Wednesday.
“Domestic prices are higher this week but farmers are just releasing beans bit by bit in anticipation of higher prices,” said a trader based in the coffee belt.
“Farmers have sold around 50-60% of their stocks”.
Another trader said the weather was good, with enough water for baby coffee trees.
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