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Asia Coffee-Vietnam Prices Fall After ICO Raises Forecast; Indonesian Premium Expands Further

From: in.reuters.com

HANOI/BANDAR LAMPUNG, April 11 (Reuters) – Domestic coffee prices in Vietnam fell this week after the International Coffee Organisation raised global surplus forecast, while Indonesian premium expanded further.

Farmers in Vietnam’s Central Highlands sold coffee at 30,900-31,800 dong ($1.33-$1.37) per kg COFVN-DAK on Thursday, down from 31,600-32,500 dong last week.

“Domestic prices fell further after the International Coffee Organisation last week raised its forecast for global coffee production,” a trader based in Ho Chi Minh City said.

The ICO last week raised its estimate for robusta production in 2018/19 to 64.37 million bags from 63.50 million bags.

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