In Vietnam, the world’s leading robusta coffee producer, grade 2 coffee with 5% black and size grain is offered at $ 10-20 per tonne compared with September futures on ICE London, a Last week the price was $ 20 – $ 30 a ton.
However, overall coffee prices rose as the London contract jumped 3.3 percent from a week ago.
Farmers in Vietnam sell in the country at 45,000 – 45,100 VND / kg, up from 44,000 – 45,000 VND / kg in the previous week.
Despite the price increase, the transaction is still quiet due to the lack of high quality coffee beans.
Independent analyst Nguyen Quang Binh said “traders fear not enough high quality coffee to supply to foreign importers, which is why they do not want to end the transaction despite the price. better”.
Vietnamese coffee exporters, faced with a declining supply of robusta beans, are paying higher prices for coffee from international traders who have gained much in the beginning of the crop.
Customs of Vietnam said that the country exported 122,000 tons (2.03 million 60 kg bags) of coffee in May, down 9.4% from a month ago and slightly higher than the estimated 120,000 tons.
Traders expect Vietnam’s coffee exports to reach 90,000-120,000 tonnes in June, while the US Department of Agriculture expects Vietnam’s coffee output in the 2017/18 crop to rise by 10% to 28.6 million bags. Or 1.72 million tons, due to favorable weather in the first half of this year.
