Coffee prices today - Robusta Coffee Prices in Vietnam and Indonesia oktober 2015 : Coffee sales in Vietnam and Indonesia slowed this week due to falls in London's robusta futures market, which had also eased the pace of Vietnam's new crop harvest, traders said. Vietnam's domestic sales had a brief pickup in October 10-16 when prices hovered at about 36,000 dong per kg having reduced a small part of the record high stocks in the world's top robusta producing nation.
The sales, however, slowed this week as prices dropped to levels unseen in nearly a month. Robusta edged up on Thursday to 34,600-35,100 dong ($1.55-$1.58) per kg from 34,500 dong the previous day, the lowest since September 23, Reuters data showed. "Farmers are not selling and the market has been quiet," a trader at a European firm in Ho Chi Minh City said.
Prices in Vietnam are still above ICE January robusta contract, which settled down 0.5 percent at $1,577 a tonne on Wednesday. The contract has lost 21 percent so far this year. Premiums of Vietnam's robusta grade 2, 5 percent black and broken widened this week to between $20 and $50 a tonne to the January contract for December loading, against a premium of $40 last Thursday.
Beans grade 1 similar to Sumatran coffee, were quoted at premiums of $70-$100 a tonne, which could attract some buyers of Indonesian coffee. "If roasters see that Vietnam offers are cheaper then they will just leave Indonesia," a Sumatra-based trader said. Vietnam and Indonesia are the world's largest producers of robusta, used mainly for production of instant coffee.
In Indonesia, Vietnam's robusta producing rival, even though stocks were available, trading slowed due to the country's weakening currency and lower London prices, with only some small deals sealed for domestic buyers, traders said. Sumatran robusta grade 4, 80 defects were offered at premiums of around $120 a tonne to ICE January, up from a premium of $100 a week ago, while buyers' bids were at premiums of $50-$70 a tonne. A weakening rupiah has also put a brake on trading, said a Vietnamese trader at a firm that deals with both Vietnamese and Indonesian origins. The Indonesian currency fell 1.45 percent in the past week to 13,630 per dollar on Thursday.
The sales, however, slowed this week as prices dropped to levels unseen in nearly a month. Robusta edged up on Thursday to 34,600-35,100 dong ($1.55-$1.58) per kg from 34,500 dong the previous day, the lowest since September 23, Reuters data showed. "Farmers are not selling and the market has been quiet," a trader at a European firm in Ho Chi Minh City said.
Prices in Vietnam are still above ICE January robusta contract, which settled down 0.5 percent at $1,577 a tonne on Wednesday. The contract has lost 21 percent so far this year. Premiums of Vietnam's robusta grade 2, 5 percent black and broken widened this week to between $20 and $50 a tonne to the January contract for December loading, against a premium of $40 last Thursday.
Beans grade 1 similar to Sumatran coffee, were quoted at premiums of $70-$100 a tonne, which could attract some buyers of Indonesian coffee. "If roasters see that Vietnam offers are cheaper then they will just leave Indonesia," a Sumatra-based trader said. Vietnam and Indonesia are the world's largest producers of robusta, used mainly for production of instant coffee.
In Indonesia, Vietnam's robusta producing rival, even though stocks were available, trading slowed due to the country's weakening currency and lower London prices, with only some small deals sealed for domestic buyers, traders said. Sumatran robusta grade 4, 80 defects were offered at premiums of around $120 a tonne to ICE January, up from a premium of $100 a week ago, while buyers' bids were at premiums of $50-$70 a tonne. A weakening rupiah has also put a brake on trading, said a Vietnamese trader at a firm that deals with both Vietnamese and Indonesian origins. The Indonesian currency fell 1.45 percent in the past week to 13,630 per dollar on Thursday.
0 Response to "Robusta Coffee Prices in Vietnam and Indonesia oktober 2015"
Post a Comment