Vietnam Price Rises On Speculation; Indonesian Trade …

From in.reuters.com

Farmers in the Vietnam sold coffee at 33,800-34,000 dong ($1.46) per kg on Thursday, up from 32,600-33,500 dong a week earlier.

“Many domestic traders are increasing their purchases of the newly harvested beans, giving an upward push to domestic prices,” a trader based in Dak Lak province said.

The trader said the speculation followed clearer forecasts that output would fall by 15-20 percent during the 2018-19 crop year, mostly due to unfavourable weather conditions.

“Now that the harvest is about to end, a forecast about a drop in output appears to have become true,” said a second Dak Lak-based trader.

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