Asia Coffee-Vietnam Sees Thin Trade As Farmers Not Keen To Sell At Low Prices
HANOI/BANDAR LAMPUNG, Indonesia, Jan 2 (Reuters) – V ietnamese farmers held back from selling coffee beans this week due to low prices, traders said on Thursday, as trade remained sluggish in Asia’s top coffee markets due to the holiday season.
Farmers in the Central Highlands, Vietnam’s largest coffee-growing area, sold coffee COFVN-DAK at 33,600 dong ($1.45) per kg, flat from last week.
March robusta coffee LRCc2 settled up $7, or 0.5%, at $1,382 per tonne on Dec. 31.
“Although farmers are under pressure to sell beans to cash in ahead of the Lunar New Year, which is three weeks away, unattractively low London prices have discouraged them,” said a trader based in the region. “Farmers still hoped that prices would go up.”