Vietnam's coffee belt braces for more rains as storm looms

Nov 3rd at 13:24
03-11-2017 13:24:35+07:00

Vietnam's coffee belt braces for more rains as storm looms

Rains are expected to continue for the next few days in Vietnam, affecting the harvest in the world's top producer of robusta coffee, while Indonesia remained quiet, traders said on Thursday.

 

A storm heading to the central and southern Vietnam is likely to cause rains in several parts of the Central Highlands, Vietnam's main coffee belt, during the weekend, preventing farmers from harvesting and drying coffee beans.

"It's been rainy for three to four days but turns sunny this morning; farmers are not harvesting ... beans are not ripe yet," said Le Duc Huy, vice general director of Simexco, a top exporter in Daklak, Vietnam's largest coffee growing province.

Severe rains would hit some eastern coastal provinces from Friday in the south and central Vietnam, and could extend to the Central Highlands in the west, with "complicated and prolonged" developments, the weather forecast centre said.

Most parts of the Central Highlands are likely to see sunny days after the weekend rains, the National Meteorological and Hydrological Center said on its website.

"If it turns out to be a mix of rainy and sunny days, it is actually a boost to the coffee beans to ripe faster and better," said independent analyst Nguyen Quang Binh.

Traders said farmers in Daklak were offering coffee beans at 39,200-40,000 dong ($1.73-$1.76) per kg, the lowest level since Sept. 6, 2016, as prices track a fall in London robusta coffee market.

London January robusta coffee futures contract fell as much as 5.9 percent this week to $1,830 a tonne on Wednesday, a low intraday level unseen since Sept. 1 last year, Thomson Reuters Eikon data showed.

Export contracts were unmatched as sellers offered the 5 percent black and broken grade 2 robusta at a discount of $40-$50 to the January contract while importers asked for a discount of $60-$70, traders said.

In Indonesia, the grade 4 defect 80 robusta beans was being traded at a $20-$30 premium to the January contract, tightening from a $40 premium a week earlier, a trader said.

Most traders are only fulfilling their committed contracts and are not active, the trader said, as harvest will not start until April next year.

tuoitrenews



NEWS SAME CATEGORY

Honey exporters eye EU market

The European market has high demand for honey, offering great opportunities for Vietnamese honey producers to boost exports.

Vietnamese firm to export pork to South Korea

The Bien Dong Trade and Investment Joint Stock Company has agreed in principle with a Korean food company to sell 2,000 tonnes of pork per year.

Sugar sales struggling: association

The sale of sugar was facing difficulties since the beginning of October, causing problems for sugar producers in recent days, according to the Sugar and Sugarcane...

Co-operative gets $19k to label mangoes

The Mekong Delta province of Dong Thap’s Government last Sunday granted VND432 million (US$18,939) to help My Xuong Cooperative in Cao Lanh District label and issue...

Vietnam's October crude oil output falls 5.1 percent year-on-year to 1.12 million tonnes

Vietnam’s crude oil output in October is estimated at 1.12 million tonnes (265,000 barrels per day), down 5.1 percent from a year ago, the government said on Sunday.

Vietnam's Jan-Oct coffee exports down, rice up

Vietnam's coffee exports are expected to have fallen an estimated 22 percent in the first 10 months of this year from a year earlier, while rice shipments are set...

Rainfall could affect coffee harvest in Vietnam

Vietnam is expected to see intermittent rainfall over the next 10 days, which together with recent crop-friendly rains may affect harvesting in the second biggest...

MoIT initiates probe into fraudulent silk scandal

The Minister of Industry and Trade, Trần Tuấn Anh, on Thursday asked the Department of Market Watch to look into the origin of products of the Khaisilk Group - a...

VN vows to combat IUU fishing

After Viet Nam received a “yellow card” from the European Commission because of its failure to meet standards against illegal, unreported and unregulated (IUU)...

Vietnam’s seafood ‘yellow carded’ by European Commission

Vietnam has been given the equivalent of a ‘yellow card’ by the European Commission for failing to take sufficient action against illegal fishing.

Commodity prices


MOST READ


Back To Top