Coffee price edges up as supply falls
The price of Robusta coffee in the Central Highlands provinces rose by
500 VND per kilogramme to more than 50,000 VND on June 10.
The price of Robusta coffee in the Central Highlands provinces rose by
500 VND per kilogramme to more than 50,000 VND on June 10.
The 500 VND hike – or 25 USD per tonne – was much lower than the price in the London terminal market, coffee buyers in HCM City said.
Exporters in Dak Lak Province offered Robusta grade 1 with 0.2 percent foreign matter, one of the top qualities in Vietnam, at 70 USD per tonne above the level on the London terminal market.
HCM City-based exporters said the FOB price of grade 2 with 5 percent black and broken and 1 percent foreign matter was around 50 USD per tonne below the terminal market price, 20-30 USD higher than last week.
Based on the closing price of the London terminal market on June 9, the FOB price for grade 2 with 5 percent black and broken was around 2,460 USD per tonne.
Central Highlands farmers were reluctant to sell due to tightened stocks.
Local sellers said there were not many buyers in the market, only some players with short positions in physical coffee.
Farmers said the coming harvest, which will start in October 2011 and last until September 2012, should be good due to good rains.
Traders and exporters estimate output to be above 1.1 million tonnes. Farmers also expect output to be a bit higher due to the higher productivity./.
The 500 VND hike – or 25 USD per tonne – was much lower than the price in the London terminal market, coffee buyers in HCM City said.
Exporters in Dak Lak Province offered Robusta grade 1 with 0.2 percent foreign matter, one of the top qualities in Vietnam, at 70 USD per tonne above the level on the London terminal market.
HCM City-based exporters said the FOB price of grade 2 with 5 percent black and broken and 1 percent foreign matter was around 50 USD per tonne below the terminal market price, 20-30 USD higher than last week.
Based on the closing price of the London terminal market on June 9, the FOB price for grade 2 with 5 percent black and broken was around 2,460 USD per tonne.
Central Highlands farmers were reluctant to sell due to tightened stocks.
Local sellers said there were not many buyers in the market, only some players with short positions in physical coffee.
Farmers said the coming harvest, which will start in October 2011 and last until September 2012, should be good due to good rains.
Traders and exporters estimate output to be above 1.1 million tonnes. Farmers also expect output to be a bit higher due to the higher productivity./.
You should also see
Dien Bien: Tua Chua's tourism potential needs to be further promoted
Tua Chua highland district in the northwestern mountainous province of Dien Bien boasts a lot of potential and advantages for the development of top-tier tourism.
See more
Business
Long An, Japan's Okayama city explore cooperation opportunities
Leaders of Vietnam’s southern Long An province and Japan’s Okayama city engaged in a dialogue on April 26 to discuss cooperation between the two localities.
Business
Investor confidence gains traction on improved business climate
Better investment climate, with simplified administrative producers and special incentives, has helped improve investor confidence, thus catalysing investments from a wider pook of both domestic and international investors for socio-economic development.
Business
Vietnam’s rice exports may exceed 2024 target
With positive results recorded so far, Vietnam can exceed its target of 7.6 million tonnes in rice export volume set for 2024, Nguyen Ngoc Nam, Chairman of the Vietnam Food Association, said at a conference in the Mekong Delta city of Can Tho on April 26.
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
