Coffee trading in Vietnam, the world's top robusta producer, picked up pace this week while prices gained in Indonesia where demand and supply have been stable since the end of the harvest, traders said on Thursday. November robusta coffee LRCc2 settled up $31, or 1.6 percent, at $1,986 per tonne, after peaking at $1,997, the highest for the second month since February 2015.
"The market yesterday was a bit quiet, but today is better," said independent analyst Nguyen Quang Binh. The Vietnamese R1 grade, screen 16, similar to Sumatran coffee, was trading between par and $10/tonne above the ICE robusta November contract, dropping from the $30-$40/tonne premiums seen last week. Meanwhile, Vietnamese old-crop coffee grade 2, 5 percent black and broken beans stood at discounts of $40-$60 a tonne to London's November contract. At discount of $60/T, the gap is the biggest for Vietnamese R2 beans since February 10, 2015.
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