Vietnam's coffee exports in January jumped beyond the government estimate ahead of a major holiday, official data showed on Thursday, while Indonesia is expected to be busier next week as it nears a mini harvest, traders said. Farmers in Daklak, the main coffee-growing province in Vietnam, quoted beans at 37,000-37,200 dong ($1.63-$1.64) per kg, traders said, edging down from last week's range of 37,500-37,600 dong per kg.
Traders quoted the 5 percent black and broken grade 2 robusta at a discount of $60-$100 per tonne to the ICE May futures contract, compared with a discount range of $40-$100 per tonne last week. Vietnam, the world's biggest grower of robusta, exported 200,745 tonnes of coffee in January, a 26.8 percent surge from a month earlier and ahead of the government estimate of 175,000 tonnes, customs data showed.
Exports of the beans would fall to 120,000-130,000 tonnes this month, traders estimate, as the Southeast Asian nation takes a week-long holiday from February 14 for the Lunar New Year celebration. Vietnam was forecast to harvest 28.5 million bags of coffee in 2017/2018, with estimates ranging from 27 million to 30 million bags, a Reuters poll of 14 traders and analysts showed, up from 24.7 million bags exported during 2016/2017.