Asia Coffee Demand falls in holiday week, Vietnam’s 2017 exports down

FROM www.kitco.com

* Vietnam’s discount at $50-$75 to London’s March contract

* Markets quiet on low demand during holidays

* Indonesia’s premium at $160 a tonne vs March

 

By Mi Nguyen

Dec 28 (Reuters) – Major Asian coffee markets were quiet on low demand during the Christmas holiday, traders said, while Vietnam’s total coffee exports were estimated to fall this year.

The Vietnam government said on Wednesday coffee exports were likely to drop 20.1 percent from a year earlier to 1.4 million tonnes. “Heavy rain last December damaged 15 to 20 percent coffee beans which were reserved for shipment in 2017. That explains the drop in coffee exports,” independent analyst Nguyen Quang Binh told Reuters on Thursday. The government, however, said that shipment of beans this month would rise from November, with traders’ forecasts also in line with the government estimate.

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