JavaScript is off. Please enable to view full site.

Vietnam domestic coffee prices hit six-year low, Indonesian premiums rise further

Friday, May 10, 2019, 09:25 GMT+7
Vietnam domestic coffee prices hit six-year low, Indonesian premiums rise further
A woman sorts coffee beans at a coffee factory in Hanoi, Vietnam on September 29, 2015. Photo: Reuters

Vietnam’s domestic coffee prices fell to the lowest level in six years on Thursday following a decline on the ICE, while Indonesian premiums to July contract widened further to compensate for the global drop.

Farmers in the Central Highlands, Vietnam’s largest coffee growing area, sold coffee at 29,000-29,800 dong ($1.24-$1.27) per kg on Thursday, down from 30,300-31,000 dong last week.

“Fresh concerns about the trade war between the United States and China and the strong sales from Brazil have pushed down global robusta prices,” a trader based in the central Highlands said.

July robusta coffee settled down $5, or 0.4 percent, at $1,290 per tonne, after earlier plunging to $1,267, the lowest since March 2010.

Traders in Vietnam offered 5 percent black and broken grade 2 robusta at a $45 per tonne discount to the July contract, flat from last week.

Customs data released on Thursday showed Vietnam’s coffee exports in April falling 16.7 percent from March to 143,296 tonnes, slightly higher than a government forecast of 140,000 tonnes.

Meanwhile, in Indonesia, premiums for the grade 4 defect 80 robusta rose to $200-$240 to the July contract on Thursday from $170 a week ago, according to a trader based in Lampung.

“The premium widened further to compensate for the decline in benchmark contract prices,” the trader said.

Supplies in Indonesia are increasing as the harvest in the southern part of Sumatra is picking up pace, he added.

Reuters

Read more

;

Photos

VIDEOS

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Vietnamese-made app allows people to grow real veggies via smartphone

Nguyen Thi Duyen, a young engineer in Hanoi, developed the app and its related services to help busy people create their own veggie gardens.

Chinese tourists hit by Vietnamese over dine and dash

Four Chinese were reportedly injured, with one having a broken arm.

Latest news

Space telescope offers rare glimpse of Earth-sized rocky exoplanet

The study will likely add to a debate among astronomers about whether the search for life-sustaining conditions beyond our solar system should focus on exoplanets around red dwarfs - accounting for 75% of all stars in the Milky Way - or less common, larger, hotter stars more like our own sun