Asia Coffee-Vietnam Dull As Holiday Mood Drags, Indonesia Subdued
From: in.investing.com
HANOI/BANDAR LAMPUNG, Indonesia, Jan 30 (Reuters) – Trade in Asian coffee markets in Vietnam was sluggish amid post-holiday sentiment, while stocks in Indonesia remained low, traders said on Thursday.
Farmers in the Central Highlands, Vietnam’s largest coffee-growing area, sold coffee COFVN-DAK at 31,000-31,500 dong ($1.34-$1.36) per kg, compared with 32,300-32,500 dong range in the week before the Lunar New Year.
“Trading is yet to return normal after the long holiday,” said a trader based in the coffee belt. “Some of the buyers are hoarding the beans on expectations of higher prices.”
Meanwhile, farmers were not willing to sell beans at this price, which traders said was not enough to cover the production cost…
