Vietnam coffee prices fall ahead of new harvest

Tsaid the climate till now remained supportive for the bushes however commerce was quiet. 
| Photograph Credit score: The Hindu

Espresso markets in main robusta producers in Asia stayed lacklustre, with native costs falling this week forward of the brand new harvest in Vietnam, whereas consumers had already stocked up in Indonesia, merchants mentioned on Thursday (September 26, 2024).

Farmers within the Central Highlands, Vietnam’s largest coffee-growing space, offered beans for 120,000-120,800 dong ($4.87-$4.91) per kg, down from final week’s 123,000-123,400 dong vary.

Merchants mentioned the climate till now remained supportive for the bushes however commerce was quiet.

“Some merchants have began to hunt for beans however in a really cautious method as some have been nonetheless going through monetary points since late final 12 months when the costs began to skyrocket, whereas others are not sure about climate situation within the upcoming days,” a dealer who relies within the espresso belt mentioned.

The Mercantile Trade of Vietnam (MXV) mentioned some coffee-growing areas had begun to reap early ripe beans and provided them at 120,000 dong per kg.

“It’s anticipated the costs of the brand new crop season would stay excessive as output decreases and demand from the principle market, Europe, improves,” it mentioned in a observe earlier this week.

Robusta espresso for November supply settled down$160, or 3%, at $5,152 per metric tonne, as of Wednesday’s shut.

Merchants provided 5% black and broken-grade 2 robusta at a reduction vary of $200-$250 per tonne to the January contract.