Darren Whiteside
Vietnam’s coffee plants are bearing small fruits
Coffee prices in Vietnam have fallen sharply this week following a drop in global prices, traders said on Thursday (9).
Farmers in the Central Highlands, Vietnam’s largest coffee-growing area, were selling beans for 94,000 to 97,000 dong ($3.74 to $3.81) per kilogram, versus a range of 132,500 dong to 133.2 dong from last week.
Robusta coffee traded on the ICE exchange in London fell 7.2% compared to last week.
“Prices have fallen significantly since the end of last week following a sharp drop at the London terminal as long position holders liquidated their positions,” said a coffee belt trader.
Vietnam’s coffee plants are bearing small fruits, but traders said it is too early to make an accurate forecast of 2024/25 production.
“Rain has increased in the region in recent days, but we still have to wait until the end of this month to get an idea of the next harvest,” said the trader.
Traders offered coffee at a premium of US$500 (R$2,500) to US$600 (R$3,000) per ton over London stock prices, falling from the recent premium of around US$1,000.
