Asia Coffee-Storm to lash more rains on Vietnam coffee belt, crop likely to remain unhurt
Asia Coffee-Storm to lash more rains on Vietnam coffee belt, crop likely to remain unhurt
A part of Vietnam’s Central Highlands, the country’s largest coffee belt, is expected to face heavy rains due to yet another tropical storm this weekend but robusta cherries to be harvested from next month would not be hurt, traders said on Thursday.
Rains from storm Saudel, the eighth to arrive in Vietnam this year and the third this month, could affect coastal provinces as well as the central highlands provinces, the country’s weather forecast agency said in a statement.
“It’s been rainy for the past week but rains will likely not affect the trees,” said a trader based in the Central Highlands province of Dak Lak.
“Farmers are not harvesting as beans are not ripe yet.”
Farmers in the Central Highlands sold coffee at 31,100-33,000 dong ($1.34-$1.42), compared with the 31,300-32,800 dong range last week.
“Market has already stayed dull for the past month as farmers have run out of beans and traders are awaiting new supplies,” said another trader also based in the coffee belt.
January robusta coffee settled down $10, or 1%, at $1,279 per metric ton on Wednesday.
Traders in Vietnam offered 5% black and broken grade 2 robusta at premiums of $170-$180 per metric ton to the January contract, compared with last week's $150-$160 premium range.
Prices of Indonesia’s Sumatran robust beans in Lampung province were little changed from last week, local traders said.
One of the traders offered $170 premium to the January contract, flat from last week, while other offered $250-$270 premium to November contract, compared with the $270 premium offered last week.
“Beans collectors are still holding on to their stock,” the trader said, referring to coffee middlemen.
Meanwhile, harvest in Lampung and nearby area in southern parts of Sumatra island has ended. ($1 = 23,176 dong).
