Vietnamese robusta beans prices september 2015

Coffee Futures prices today - Vietnamese robusta beans prices september 2015 : Coffee prices in Vietnam edged up this week in line with a gain in futures contracts but remain below growers' expectations, while foreign buying demand has yet to pick up, traders said.

That has left a large gap between bids and offers, with few beans changing hands. ICE November robusta contract settled up $35, or 2.3 percent at $1,587 per tonne, after matching the prior session's near-two-year low at $1,544.

In Vietnam, the world's top robusta producer, the bitter beans rose to 35,000-35,800 dong ($1.56-$1.59) per kg in top growing province of Daklak, from 34,800-35,400 dong at the weekend, following the gains in London. The 34,800 dong per kg price was the lowest since July 29.

"Trading is stuck," a Vietnamese exporter based in Daklak said. "Farmers should release some stocks now in preparations for the next harvest," he said, adding that selling old-crop beans now will also help boost the export quality.

Based on the domestic prices, exporters were seeking to sell Vietnamese robusta beans grade 2, 5 percent black and broken at premiums of $75-$90 a tonne to the November contract, up from premiums of $60-$80 a tonne last week. That placed the beans at $1,662-$1,677 a tonne, on a free-on-board Saigon basis. But bids were at discounts of $20-$30 a tonne, leaving no deals sealed in recent days, traders said.

"Roasters' buying has been slow while domestic prices are also high," a trader at a European trading house in Ho Chi Minh City said, referring to exporters' offer prices in comparison with buyers' bids.

A tropical storm that made landfall on Monday brought rain to part of the Central Highlands coffee belt, but left coffee trees undamaged, traders said.

Traders said they were monitoring the weather since two to three more storms were expected to hit in the next month. The dry season often starts in the Central Highlands in October, bringing better conditions for the harvest, but heavy rains in the last quarter of the year can disrupt harvesting and the drying process, causing bean quality to worsen.

Harvesting of the October 2015/September 2016 crop is due to begin in late October and peaks from November.

Posted by Berita Lampung

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