Asia Coffee-Market tepid on low demand in Vietnam, lean supply in Indonesia
Friday, March 10,2017AsemconnectVietnam - Discounts for Vietnamese coffee widened this week on low demand, while prices edged up in Indonesia amid limited domestic supply, traders said on Thursday.
Prices in Daklak, Vietnam's largest coffee bean-growing province, rose to 47,300 dong-48,000 dong ($2.07-$2.11) per kg COFVN-DAK, from 46,000 dong-47,300 dong a week ago.
The 5-pct black and broken grade 2 robusta COFVN-G25-SAI were quoted at $30-$90 a tonne below the London's ICE May contract LRCK7, widening from $40-$85 a tonne last week.
"There was not much trading in the market," said deputy director of Daklak-based Anh Minh Co.
Robusta coffee May futures LRCc2 snapped three straight sessions of declines to gain 0.9 percent to $2,189 per tonne on Wednesday.
Vietnam exported 146,000 tonnes (2.4 million 60-kg bags) of coffee in February, up 4.3 percent from the previous month, slightly above market expectations.
Meanwhile, in Indonesia, Vietnam's major rival, supplies still remained at a low level, with the robusta grade 4, 80 defects COFID-G4-USD quoted at a premium of $15-$28 a tonne to the May contract from $10-$20 a week earlier, traders said.
Export orders were also limited due to low coffee supply.
Coffee bean exports from Indonesia's main growing area of Lampung surged 45 percent in February as compared with a year earlier.
Source: Reuters.com
DAILY: Vietnamese coffee prices increased by 2000 VND on April 25, 2024
In first 3 months of this year, Italy was Vietnam's largest iron and steel import market
Measures to continue to be "bright spot" in attracting FDI
Vietnam seeks to remove obstacles in upgrade of securities market
SBV takes more actions to stabilise foreign exchange rates
Chili export to Chinese market increased by 72.3%
Brazil is a market supplying the most corn to Vietnam
Exports are favorable, dragon fruit prices soar
Fertilizer exports and imports in first quarter of 2024
Vietnam - an enticing destination for foreign investors: IMF expert
Banks propose raising small loan cap to 400 million VND
In the first quarter of 2024, pangasius export to UAE market increased by 67%
Pepper export to the Korean market increased nearly 180%
New growth drivers needed for businesses
Plan of Hai Duong province for a period of 2021 - 2030, ...
Organize space reasonably and harmoniously, focusing on connecting Hai Duong in common development space, actively contributing to the ...Plan of Hau Giang province in a period of 2021 - 2030, ...
Sustainable forestry development program in a period of ...
12th-century ancient road unearthed at My Son Sanctuary
An ancient road dating back to the 12th century has freshly been discovered in an excavation on architectural ruins at the east side of ...Efforts made to seek UNESCO’s recognition for Con Moong ...
Vietnam Art Photo Contest and Exhibition 2024 to be held ...
Bas-relief featuring talks between Uncle Ho and soldiers ...