Vietnam April coffee exports seen falling to 2 million 60-kg bags
Vietnam April coffee exports seen falling to 2 million 60-kg bags
Vietnam’s coffee exports are forecast to fall to around two million 60-kg bags in April from 2.87 million bags last month, traders said on Thursday, as farmers are not keen to sell at low prices.
“A long holiday from this weekend will also put a break on coffee shipments,” a trader based in the Central Highlands, the country’s largest coffee growing area, said.
Farmers in the Central Highlands sold coffee at 30,400-31,500 dong ($1.31-$1.36) per kg on Thursday, compared with 30,500-31,400 dong last week.
“Farmers are selling moderately as they are complaining that prices are too low for them to make profit,” another trader said.
Traders in Vietnam offered 5 percent black and broken grade 2 robusta at a $45 per tonne discount to the July contract, flat from last week.
July robusta coffee settled down $8, or 0.6 percent, at $1,391 per tonne on Wednesday, after setting a new more than three-year low of $1,389.
Meanwhile, in Indonesia, premiums for the grade 4 defect 80 robusta rose to $130 to the July contract on Thursday from $100-$110 a week ago, according to a trader based in Lampung.
“Prices are rising due to increasing demand,” the trader said. Another trader said premiums were $100-$110 to the June contract.
