AsemconnectVietnam - Vietnam, the world's largest robusta coffee producer, will avoid selling the bitter beans at discounts larger than $100 a tonne to global prices following an industry agreement, exporters said on Thursday.

The agreement was reached at a recent meeting by the Ho Chi Minh City-based G20 which groups Vietnam's 20 largest coffee export firms accounting for some 80 percent of the country's total coffee exports, two exporters said.

"This is not a regulation as the group is not in position to issue it but it is an agreement among all members," said an exporter based in Daklak, Vietnam's largest growing province, referring to the $100-a-tonne floor.

On Thursday, discounts of Vietnamese robusta grade 2, 5 percent broken narrowed to $50-$70 a tonne to London's January contract  LRCF5, from discounts of $75-$85 a tonne early this week and $80-$90 a week ago.

Source: Reuters