robusta coffee futures prices down : Trading in Vietnamese robusta coffee came to a near standstill on Thursday after futures prices hit a fresh low, while in Indonesia limited supply curbed activities, traders said.
Stocks are ample after Vietnam, the world's top robusta producer, ended its 2015/2016 harvest early this month, and more beans will arrive in late March from rival producer Indonesia.
Robusta futures sank to a five-and-a-half-year low on Wednesday on strong flows from Vietnam and overall weakness in commodity markets.
Local prices in Vietnam slipped to 30.2-31.0 million dong ($1,347-$1,383) per tonne in the Central Highlands coffee belt, from 31.6-31.8 million dong early this week.
At 30.2 million dong, the price is the lowest since mid-November 2013, Thomson Reuters data showed.
Most growers held back supplies on expectations of higher prices next month, said Le Tien Hung, general director of Simexco, a major Vietnamese export firm in the key growing province of Daklak.
"Only those who are much in need of cash, have to sell now while others wait until after Tet," Hung said.
Tet is Vietnam's Lunar New Year festival in early February.
Robusta grade 2, 5 percent black and broken stood at premiums of $40-$50 a tonne to the ICE May contract, against bids at premiums of $30-$35/tonne, traders said.
Beans grade 1, similar to the Sumatran coffee, stood unchanged in the past week at premiums of $90-$100 a tonne.
In Indonesia trade has slowed due to limited stocks, traders said.
Premiums of robusta grade 4, 80 defects soared to $200-$250 a tonne to London prices, from $100 a tonne last Thursday.
"We are offering like crazy, some people even up to $300," a Lampung-based trader said.
Trading in Vietnamese robusta coffee came to a near standstill on Thursday after futures prices hit a fresh low, while in Indonesia limited supply curbed activities, traders said.
Stocks are ample after Vietnam, the world's top robusta producer, ended its 2015/2016 harvest early this month, and more beans will arrive in late March from rival producer Indonesia.
Robusta futures sank to a five-and-a-half-year low on Wednesday on strong flows from Vietnam and overall weakness in commodity markets.
Local prices in Vietnam slipped to 30.2-31.0 million dong ($1,347-$1,383) per tonne in the Central Highlands coffee belt, from 31.6-31.8 million dong early this week.
At 30.2 million dong, the price is the lowest since mid-November 2013, Thomson Reuters data showed.
Most growers held back supplies on expectations of higher prices next month, said Le Tien Hung, general director of Simexco, a major Vietnamese export firm in the key growing province of Daklak.
"Only those who are much in need of cash, have to sell now while others wait until after Tet," Hung said.
Tet is Vietnam's Lunar New Year festival in early February.
Robusta grade 2, 5 percent black and broken stood at premiums of $40-$50 a tonne to the ICE May contract, against bids at premiums of $30-$35/tonne, traders said.
Beans grade 1, similar to the Sumatran coffee, stood unchanged in the past week at premiums of $90-$100 a tonne.
In Indonesia trade has slowed due to limited stocks, traders said.
Premiums of robusta grade 4, 80 defects soared to $200-$250 a tonne to London prices, from $100 a tonne last Thursday.
"We are offering like crazy, some people even up to $300," a Lampung-based trader said.
2016/2017 ROBUSTA CROPS
Vietnam could produce 29.42 million 60-kg bags of coffee in the next 2016/2017 crop, up 4 percent from this season, Fitch Ratings' BMI Research said in a report.
It projected Indonesia's 2016 output to fall 9 percent from last year to 9.78 million bags.
An Indonesian industry official had forecast on Jan. 13 that output could increase by 9 percent to 600,000 tonnes in 2016.
Tight supply in Indonesia has prompted roasters to import beans from Vietnam, Simexco's director Hung said.
Last year Indonesia bought 13,500 tonnes of Vietnamese coffee, down 15 percent from the previous year, Vietnam Customs data showed.
Vietnam could produce 29.42 million 60-kg bags of coffee in the next 2016/2017 crop, up 4 percent from this season, Fitch Ratings' BMI Research said in a report.
It projected Indonesia's 2016 output to fall 9 percent from last year to 9.78 million bags.
An Indonesian industry official had forecast on Jan. 13 that output could increase by 9 percent to 600,000 tonnes in 2016.
Tight supply in Indonesia has prompted roasters to import beans from Vietnam, Simexco's director Hung said.
Last year Indonesia bought 13,500 tonnes of Vietnamese coffee, down 15 percent from the previous year, Vietnam Customs data showed.
Stocks are ample after Vietnam, the world's top robusta producer, ended its 2015/2016 harvest early this month, and more beans will arrive in late March from rival producer Indonesia.
Robusta futures sank to a five-and-a-half-year low on Wednesday on strong flows from Vietnam and overall weakness in commodity markets.
Local prices in Vietnam slipped to 30.2-31.0 million dong ($1,347-$1,383) per tonne in the Central Highlands coffee belt, from 31.6-31.8 million dong early this week.
At 30.2 million dong, the price is the lowest since mid-November 2013, Thomson Reuters data showed.
Most growers held back supplies on expectations of higher prices next month, said Le Tien Hung, general director of Simexco, a major Vietnamese export firm in the key growing province of Daklak.
"Only those who are much in need of cash, have to sell now while others wait until after Tet," Hung said.
Tet is Vietnam's Lunar New Year festival in early February.
Robusta grade 2, 5 percent black and broken stood at premiums of $40-$50 a tonne to the ICE May contract, against bids at premiums of $30-$35/tonne, traders said.
Beans grade 1, similar to the Sumatran coffee, stood unchanged in the past week at premiums of $90-$100 a tonne.
In Indonesia trade has slowed due to limited stocks, traders said.
Premiums of robusta grade 4, 80 defects soared to $200-$250 a tonne to London prices, from $100 a tonne last Thursday.
"We are offering like crazy, some people even up to $300," a Lampung-based trader said.
Trading in Vietnamese robusta coffee came to a near standstill on Thursday after futures prices hit a fresh low, while in Indonesia limited supply curbed activities, traders said.
Stocks are ample after Vietnam, the world's top robusta producer, ended its 2015/2016 harvest early this month, and more beans will arrive in late March from rival producer Indonesia.
Robusta futures sank to a five-and-a-half-year low on Wednesday on strong flows from Vietnam and overall weakness in commodity markets.
Local prices in Vietnam slipped to 30.2-31.0 million dong ($1,347-$1,383) per tonne in the Central Highlands coffee belt, from 31.6-31.8 million dong early this week.
At 30.2 million dong, the price is the lowest since mid-November 2013, Thomson Reuters data showed.
Most growers held back supplies on expectations of higher prices next month, said Le Tien Hung, general director of Simexco, a major Vietnamese export firm in the key growing province of Daklak.
"Only those who are much in need of cash, have to sell now while others wait until after Tet," Hung said.
Tet is Vietnam's Lunar New Year festival in early February.
Robusta grade 2, 5 percent black and broken stood at premiums of $40-$50 a tonne to the ICE May contract, against bids at premiums of $30-$35/tonne, traders said.
Beans grade 1, similar to the Sumatran coffee, stood unchanged in the past week at premiums of $90-$100 a tonne.
In Indonesia trade has slowed due to limited stocks, traders said.
Premiums of robusta grade 4, 80 defects soared to $200-$250 a tonne to London prices, from $100 a tonne last Thursday.
"We are offering like crazy, some people even up to $300," a Lampung-based trader said.
2016/2017 ROBUSTA CROPS
Vietnam could produce 29.42 million 60-kg bags of coffee in the next 2016/2017 crop, up 4 percent from this season, Fitch Ratings' BMI Research said in a report.
It projected Indonesia's 2016 output to fall 9 percent from last year to 9.78 million bags.
An Indonesian industry official had forecast on Jan. 13 that output could increase by 9 percent to 600,000 tonnes in 2016.
Tight supply in Indonesia has prompted roasters to import beans from Vietnam, Simexco's director Hung said.
Last year Indonesia bought 13,500 tonnes of Vietnamese coffee, down 15 percent from the previous year, Vietnam Customs data showed.
Vietnam could produce 29.42 million 60-kg bags of coffee in the next 2016/2017 crop, up 4 percent from this season, Fitch Ratings' BMI Research said in a report.
It projected Indonesia's 2016 output to fall 9 percent from last year to 9.78 million bags.
An Indonesian industry official had forecast on Jan. 13 that output could increase by 9 percent to 600,000 tonnes in 2016.
Tight supply in Indonesia has prompted roasters to import beans from Vietnam, Simexco's director Hung said.
Last year Indonesia bought 13,500 tonnes of Vietnamese coffee, down 15 percent from the previous year, Vietnam Customs data showed.
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