Vietnam’s Coffee Prices Fall; Trade Slows In Indonesia

From: fp.brecorder.com

Coffee trading has been slow this week in Vietnam due to weak prices, while elections in Indonesia saw traders keep to the sidelines. Farmers in Vietnam’s Central Highlands sold coffee at 30,500-31,400 dong ($1.35)($1.31-$1.35) per kg on Thursday, compared with 30,900-31,800 dong last week.

“Prices have been so low because of strong sales from Brazil, whose currency has weakened significantly against the US dollar, prompting sales of dollar-denominated commodities,” said a trader based in Ho Chi Minh City.”Farmers in Vietnam are reluctant to sell at such low prices,” the trader said.

Traders in Vietnam offered 5 percent black and broken grade 2 robusta at a $45 per tonne discount to the July contract, compared with a $60 discount last week.

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