HANOI/BANDAR LAMPUNG, (Indonesia): Domestic coffee prices in Vietnam edged up this week following an increase in global prices and the possibility of unfavourable weather, while bean supplies decreased in Indonesia, traders said on Thursday.
Farmers in the Central Highlands, Vietnam’s largest coffee-growing region, sold beans for 110,100-110,800 dong ($4.34-$.36) per kg, up from last week’s 105,500-106,000 dong.
Robusta coffee for January delivery settled up $95 at $4,632 per metric ton as of Wednesday’s close. Farmers in the coffee belt are speeding up cherry-picking process with weather condition forecast to be more favourable for the harvest and for quality of beans, the Mercantile Exchange of Vietnam said.
“La Nina has not had a major impact on farmers’ harvesting activities. Supplies in the last two months of the year will improve,” said Nguyen Ngoc Quynh, deputy head of the agency.
However, according to traders based in the coffee belt, rains remained a concern as typhoons have continuously approached the South China Sea.
Comments
Comments are closed.