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.