August 29, 2019 / 9:03 AM / 24 days ago

Asia Coffee-Trade remains quiet in Vietnam; Indonesian supplies steady

HANOI/BANDAR LAMPUNG, Aug 29 (Reuters) - Coffee trading was slow this week in Vietnam with domestic prices staying unchanged from a week earlier, while supply remained steady in Indonesia despite a main harvest coming to an end.

Farmers in the Central Highlands, Vietnam’s largest coffee growing area, sold coffee at 35,000 dong ($1.51) per kg COFVN-DAK, unchanged from last week.

“Trading activities were tepid as weak London prices discouraged Vietnamese farmers from offloading stocks,” said a trader based in the Central Highlands.

Local farmers have already sold most of their output and are not willing to sell at low prices, he added.

Another trader, also based in the region, said there were virtually no transactions in the past two weeks.

Traders in Vietnam offered the 5% black and broken grade 2 robusta COFVN-G25-SAI at a $250 premium per tonne to the November contract, compared with a range of $220-$250 premium a week ago.

Coffee exports from Vietnam are expected to fall an estimated 10.3% in the first eight months of this year from a year earlier to 1.19 million tonnes, equal to 19.8 million 60-kg bags, official data released on Thursday showed.

Meanwhile, a trader in Indonesia’s Lampung province said Sumatran robusta was offered at a $150 premium to the November contract, unchanged from last week.

The trader said supply remained steady this week despite the main harvest coming to an end. The harvest in the southern part of Sumatra island typically starts around mid-year and lasts until August or September. ($1 = 23,198 dong) (Reporting by Phuong Nguyen in HANOI and Mas Alina Arifin in BANDAR LAMPUNG; Editing by Subhranshu Sahu)

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