Vietnam domestic coffee prices flat as low stocks hit transactions
![Vietnam domestic coffee prices flat as low stocks hit transactions](/temp/resize/400x300/upload/news/08-2019/ea99ed07-5d537914425cc5de7af4ad1c.jpg)
Vietnam’s local coffee prices stayed flat from last week on Thursday in low trade, as farmers had almost sold out their stocks.
A farmer harvests coffee in the Central Highlands province of Dak Lak. Photo: Tuoi Tre
Farmers in the Central Highlands, Vietnam’s largest coffee growing area, sold coffee at 35,000 dong ($1.51) per kg on Thursday, unchanged from a week ago.
“There’s not much coffee left out there and so we can’t sign new export contracts for delivery during the rest of the current crop year,” a Central Highlands-based trader said.
The current 2018/19 crop year will officially end at the end of September. Farmers will start the new harvest in October.
Traders in Vietnam offered 5% black and broken grade 2 robusta at a $90 per tonne premium to the November contract, narrowing from $110-$120 last week.
Government data released late last week showed Vietnam’s coffee exports in the first half of this year fell 10.6% from a year earlier to 928,000 tonnes. June exports were estimated at 150,000 tonnes, up from 146,220 tonnes in May.
September robusta coffee settled up $11, or 0.8%, at $1,455 per tonne on Wednesday.
Data from the International Coffee Organisation released on Monday showed global coffee exports rose 19.4% year-on-year in May.
Meanwhile, Indonesia’s grade 4 defect 80 robusta beans COFID-G4-USD were offered at a $180 premium to the September contract, flat from last week, a trader in the Sumatran province of Lampung said.
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