Vietnam’s Prices Rise as Brazil Announces Production Fall
As the world’s second top producer, domestic coffee prices in Vietnam edged higher this week, as a possible decline in Brazilian production fueled trade concerns over global supply.
Farmers in the Central Highlands, Vietnam's coffee-growing capital, sold coffee at $1.39-$1.43/kg on April 15.
"Domestic supplies are getting thinner and we are aware that the output of an ongoing harvest in Brazil is forecast fall sharply," a trader based in the Central Highlands province of Dak Lak said.
"Sales, however, are slow as farmers are not yet happy with the current prices," the trader added.
May robusta coffee settled up 1.6%, at $1,365 a tonne on April 14.
Meanwhile, in Indonesia, supplies have started to build up amid a mini harvest there.
"This week we received the highest bean volume so far this year," a trader in Lampung province said on April 15, noting that the main coffee harvest typically falls around mid-year in the southern parts of Sumatra island.