Vietnam's coffee market was quiet on its first trading day in the Lunar New Year, with no export deals, while Indonesian exporters no longer offered new contracts due to a lack of supply, traders said on Thursday. Vietnamese robusta grade 2, 5 percent black and broken was quoted at discounts of $60-$70 to the ICE May contract, which advanced 0.9 percent to end at $2,257 on Wednesday.
"Farmers are still in holiday and are not selling yet, so no export transaction has been sealed," said Phan Hung Anh, deputy director of Anh Minh Company in Daklak, the country's top coffee-growing province. Vietnam, the world's largest robusta producer, could export an estimated 140,000 tonnes (2.3 million 60-kg bags) of coffee in the first month of this year, down 20.7 percent from a year earlier.