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Asia Coffee-Trade muted in Vietnam amid social distancing

Asia Coffee-Trade muted in Vietnam amid social distancing

Thursday, April 09, 2020, 19:41 GMT+7
Asia Coffee-Trade muted in Vietnam amid social distancing
Roasted coffee beans are seen at the coffee company of Simexco Dak Lak Limited in the town of Di An in Binh Duong province, Vietnam July 8, 2019. Photo: Reuters

Coffee trading in Vietnam remained muted with the country in 15 days of social distancing to fight the coronavirus, while traders in Indonesia were awaiting new beans coming in May.

“Not just Vietnam, the pandemic has prompted governments around the world to impose severe curbs on movement in a bid to stem the spread of the virus,” said a trader based in the Central Highlands, Vietnam’s coffee belt.

“Basically, the virus has disrupted everything in everywhere.”

Some traders said they couldn’t fulfil their signed contracts because of supply disruption.

“Roasters and traders are already stocked up as they anticipated supply disruption because of the virus. But farmers refused to release beans at low prices in March so there are still some orders I can’t fulfil,” another trader based in the same region said.

“Hopefully activities will resume as soon as Indonesia is about to release fresh beans next month.”

July robusta coffee settled up $4, or 0.33%, at $1,234 per tonne on Wednesday.

A trader in Indonesia’s Lampung province in Sumatra said robusta beans were being offered with $250 premium to the July contract this week, compared to a $200-$250 premium last week.

Other traders said the premium remained unchanged at $300-$350 for contracts from May through July.

Reuters

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