HANOI/BANDAR LAMPUNG: Vietnam coffee prices have softened but remain at higher levels amid tight supplies and lacklustre trade after a week-long Lunar New Year break, while premiums were higher in Indonesia also due to a shortage of beans, traders said on Thursday.
Farmers in the central highlands, Vietnam’s largest coffee-growing area, were selling beans for 78,900-79,200 dong ($3.23-$3.24) per kg, down from 79,100-80,000 dong range pre-holiday.
“Some deals have been sealed on the very first days of the Lunar New Year,” said a trader based in the coffee belt. “Most farmers are cultivating both coffee trees and fruit trees, especially durians. They prioritised selling durians first as fruits get easily spoiled, to cash in for holiday... hopefully they will release more coffee beans in the coming days.”
Robusta coffee for May delivery settled down $73, at $3,090 per metric ton on Wednesday. Traders offered 5% black and broken-grade 2 robusta at a premium of $150-$200 per ton to the May contract. In Indonesia, Sumatra robusta coffee beans were offered at a $550 premium to the March contract this week, up $10-$20 compared to two weeks ago.
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