Asia Coffee: Vietnam Prices Inch Higher As Supply Runs Low

From: finance.yahoo.com

HANOI/BANDAR LAMPUNG (Reuters) – Coffee prices in Vietnam edged higher this week on low supplies, while trading activity picked up in Indonesia where a major harvest was in full swing.

Farmers in the Central Highlands, Vietnam’s largest coffee growing area, sold coffee at 35,000 dong ($1.50) per kg on Thursday, compared with 33,000-34,000 dong a week earlier.

Supplies from farmers ran low and farmers were not keen to sell below 35,000 dong per kg, said a market analyst based in the Central Highlands.

Traders said almost no new deals were made this week, except for those trying to purchase beans for their export contracts signed earlier.

Traders in Vietnam offered 5% black and broken grade 2 robusta at a $110-$120 per tonne premium to the November contract. The premium was $100 to the September contract last week.

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