Asia Coffee-Prices fall in Indonesia on harvest; Vietnam exports seen lower
Thursday, March 30,2017AsemconnectVietnam - A small harvest in Indonesia dragged prices of coffee beans down, while the market in Vietnam remained quiet amid low supply and thin stockpile, traders said on Thursday.
Traders in Indonesia quoted robusta grade 4, 80 defects COFID-G4-USD at a discount of $25 a tonne to the London's ICE May contract LRCK7, wider than last week's discount of $5-$10, as a small harvest boosted supply.
"Local trade is good and picking up (in volume)," said a trader, adding that exports are light amid price uncertainties in the global commodities market.
In Vietnam, the world's second largest coffee exporter, farmers raised local prices to 47,300-48,000 dong ($2.08-$2.11)per kg in Daklak province COFVN-DAK, the country's major coffee grower, due to thin stockpile, traders said.
Exporters only buy from farmers to complete their previously signed contracts while demand from global importers for Vietnamese beans was lower as they eyed harvests in Indonesia and Brazil, said Phan Hung Anh, Deputy director of Daklak-based Anh Minh Company.
Indonesia's coffee exports volume in February jumped 45 percent annually, following a rise of 37 percent a month earlier, official statistics showed.
Meanwhile, Vietnam's coffee exports volume in the first quarter of this year is estimated to fall 1.6 percent from a year earlier to 467,000 tonnes (7.8 million 60-kg bags), while traders see April exports to fall to 100,000-130,000 tonnes.
Traders in Vietnam quoted 5-pct black and broken grade 2 robusta COFVN-G25-SAI at $20-$30 a tonne below the London ICE July contract LRCN7, compared to last week's discounts of $35-$50 below the May contract.
"It's hard to strike a deal at this price; buyers say it's still expensive ... There must be a jump in London prices for the Vietnamese market to be robust again," said a Ho Chi Minh City-based trader.
Source: Reuters.com
Vietnam's petroleum exports and imports in March and the first 3 months of 2024
WB: Vietnam's economy shows signs of recovery, GDP may reach 5.5% in 2024
Vietnam’s leading rice export markets in first quarter of 2024
Vietnamese canned sugarcane juice favoured in US
Investor confidence gains traction on improved business climate
Textile and garment sector keeps growth and attracting FDI investment
Exports and imports of animal feed and raw materials in March and first 3 months of 2024
Vietnam's seafood exports and imports in March and first 3 months of 2024
DAILY: Vietnamese pepper prices decreased by 1000 VND on April 25, 2024
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
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 ...