AGL 40.22 Increased By ▲ 0.22 (0.55%)
AIRLINK 127.30 Increased By ▲ 0.26 (0.2%)
BOP 6.62 Decreased By ▼ -0.05 (-0.75%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.56 Increased By ▲ 0.01 (0.12%)
DFML 42.13 Increased By ▲ 0.69 (1.67%)
DGKC 87.25 Increased By ▲ 0.40 (0.46%)
FCCL 32.65 Increased By ▲ 0.37 (1.15%)
FFBL 65.21 Increased By ▲ 0.41 (0.63%)
FFL 10.21 Decreased By ▼ -0.04 (-0.39%)
HUBC 109.60 Increased By ▲ 0.03 (0.03%)
HUMNL 14.55 Decreased By ▼ -0.13 (-0.89%)
KEL 5.12 Increased By ▲ 0.07 (1.39%)
KOSM 7.57 Increased By ▲ 0.11 (1.47%)
MLCF 41.70 Increased By ▲ 0.32 (0.77%)
NBP 59.65 Decreased By ▼ -0.76 (-1.26%)
OGDC 194.40 Increased By ▲ 4.30 (2.26%)
PAEL 28.17 Increased By ▲ 0.34 (1.22%)
PIBTL 7.87 Increased By ▲ 0.04 (0.51%)
PPL 152.01 Increased By ▲ 1.95 (1.3%)
PRL 26.60 Decreased By ▼ -0.28 (-1.04%)
PTC 16.02 Decreased By ▼ -0.05 (-0.31%)
SEARL 83.05 Decreased By ▼ -2.95 (-3.43%)
TELE 7.49 Decreased By ▼ -0.22 (-2.85%)
TOMCL 35.43 Increased By ▲ 0.02 (0.06%)
TPLP 8.20 Increased By ▲ 0.08 (0.99%)
TREET 16.15 Decreased By ▼ -0.26 (-1.58%)
TRG 52.62 Decreased By ▼ -0.67 (-1.26%)
UNITY 26.68 Increased By ▲ 0.52 (1.99%)
WTL 1.24 Decreased By ▼ -0.02 (-1.59%)
BR100 9,927 Increased By 42.9 (0.43%)
BR30 30,852 Increased By 252.1 (0.82%)
KSE100 93,817 Increased By 461.7 (0.49%)
KSE30 29,072 Increased By 140.8 (0.49%)

Discounts for Vietnamese coffee widened on Thursday as harvesting picked up in sunny weather and on improved crop outlook, while premiums for Indonesian coffee narrowed on declining stocks, traders said. Sunny days this week have been supporting harvest in the Central Highlands coffee belt of Vietnam, the world's largest robusta producer, and the quicker pace of plucking has in turn bolstered domestic purchases, traders said.
"Foreign-invested firms have been buying in domestic markets, while exports have yet to pick up," said a trader with a European company in Ho Chi Minh City. Rising local prices have also led farmers to offload more stocks with robusta beans rising to between 44.4 million and 44.9 million dong ($1,981-$2,004) a tonne on Thursday from 44.0-44.4 million dong a week earlier.
January robusta futures settled up 1.3 percent at $2,163 per tonne on Wednesday. Vietnamese robusta beans grade 2, 5 percent black and broken were traded at discounts of $60-$70 a tonne to the January contract, widening from discounts of $30-$40 a tonne last Thursday. Beans grade 1 screen 16, similar to the Sumatran coffee, were quoted at par with the January contract to a discount of $10/tonne, with the spread between grade 1 and grade 2 widening to around $50, compared with $45 early this month, due to thin supply.
"The discounts are wider because of fundamentals, as the crop output may not drop as much as expected," said another trader in Ho Chi Minh City. The Vietnam Coffee and Cocoa Association has cuts its 2016/2017 output loss estimate to 10-20 percent from 20-25 percent. In Indonesia, stocks fell further and premiums for robusta beans narrowed, traders said.

Copyright Reuters, 2016

Comments

Comments are closed.