Vietnam’s main coffee growing area suffered heavy rain in December 2016, damaging supply and quality of grain, resulting in a 16% export volume of coffee in the first seven months of 2017 compared to the same period. Previous period.
Exporters do not sign new contracts, fearing similar weather challenges this year, while importers, mostly vacationers, have sought higher quality beads.
Vietnam, the world’s largest exporter of robusta, exported 110,000 tonnes of coffee in July, bringing the total exports in the first seven months to 941,000 tonnes.
Domestic coffee prices increased slightly to VND46,000 to VND46,500 per kg from VND46,000 a week ago, reflecting a rise in November contract on ICE London, up 1.5% to close at $ 2,136 / Ton on August 2.
Traders said the price of robusta type 2 coffee with 5% black and broken grains was trading at a deduction of $ 50-100 per tonne compared to the November futures contract on ICE, reversing from a plus $ 10 a week ago.
In Indonesia, robusta grade 4 with 80% defective grains traded at a rebound of US $ 15-20 per tonne compared with September futures on ICE, a week ago traded from a subtraction of US $ 20 Plus $ 10 / ton.
Traders in Lampung’s main growing area said coffee farmers had harvested 100,000 tons from their recent harvest, which they did not hurry to collect cash.
(According to Vinanet)
