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Coffee market in Asia and Vietnam cool ahead of new harvest season, low supplies in Indonesia

Farmers in the Central Highlands, Vietnam’s largest coffee-growing region, sold COFVN-DAKat beans for VND46,900-47,200 ($1.98-$1.99) per kilogram, compared with a range of VND47,000 -48,200 VND last week.

“Trade is muted right now because everyone is waiting for new beans,” said an exporter from Ho Chi Minh City.

“We assess the current situation on the eve of the harvest against the background of the strengthening of the dollar, the increase in freight rates, and the increase in the cost of production.

Traders in Vietnam offered 5% black and broken robusta COFVN-G25-SAI Grade 2 at a discount of $200-$250/t to the November contract.

Another trader said the coffee-growing area was preparing for more rains, but the rains at the time helped pull the weak cherries from the cherries before harvest.

November robusta futures on ICELRCc2 were down $10, or 0.4%, at $2,226 a tonne on Wednesday.

In Indonesia’s Lampung province, discounts on Sumatran robusta beans remained unchanged this week, local traders said.

One trader offered a $140 discount on the November contract, while another offered a $50-$60 discount on the October and November contracts.

“The volume of beans has started to decrease as the harvest has ended, while local buyers are still trying to buy more beans,” said one trader.

https://www.retailnews.asia/asia-coffee-vietnam-market-tepid-ahead-of-new-crop-season-low-supplies-in-indonesia/?utm_source=rss&utm_medium=rss&utm_campaign=asia-coffee-vietnam-market-tepid-ahead-of-new-crop-season-low-supplies-in-indonesia Coffee market in Asia and Vietnam cool ahead of new harvest season, low supplies in Indonesia

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