Farmers in the Central Highlands sold coffee at 33,000 VND (1.42 USD) / kg on 7/11, compared to 31,800 – 32,600 VND / kg a week ago.
A trader said “domestic prices rose this week after world prices rose”.
Farmers have begun to harvest coffee cherries but not yet on a large scale, when only about a quarter of the crops are fully ripe, according to another trader in this area.
He said “a slow harvest could delay the flow of coffee for export”. “Coffee in this crop is less than previously anticipated.”
Traders expect new coffee to start to market in large quantities from late November 2019 when the peak harvest.
Traders in Vietnam have offered robusta coffee grade 2 (5% black and broken) at plus 110-120 USD / ton compared to the January 2020 contract on the ICE, expanding from 80 – 100 USD a week ago.
Meanwhile, Indonesian robusta coffee with type 4 defect 80 was offered at an addition of 240 USD compared to the January 2020 contract, down from plus 270 USD in the previous week. Trading in Indonesia is still very weak when the supply of coffee is exhausted.
A trader said “trading is very quiet these days because the harvest is over”. “Trading will remain weak until February or March.”
