𝗔𝗦𝗜𝗔 𝗖𝗢𝗙𝗙𝗘𝗘-𝗦𝘂𝗽𝗽𝗹𝗶𝗲𝘀 𝗿𝗲𝗺𝗮𝗶𝗻 𝗹𝗶𝗺𝗶𝘁𝗲𝗱 𝗶𝗻 𝗩𝗶𝗲𝘁𝗻𝗮𝗺 𝗮𝘀 𝗳𝗮𝗿𝗺𝗲𝗿𝘀 𝗿𝗲𝗳𝗿𝗮𝗶𝗻 𝗳𝗿𝗼𝗺 𝘀𝗲𝗹𝗹𝗶𝗻𝗴

– Trading activities in the coffee market remained lacklustre in Vietnam on depleted supplies as farmers refrained from selling in the hope of higher prices, traders said on Thursday, while premiums narrowed in Indonesia. Farmers in the central highlands, Vietnam’s largest coffee-growing area, were selling beans for 63,500 dong-66,000 dong ($2.62-$2.72) per kg, higher than last week’s 59,900 dong-60,500 dong range.
“Farmers are not selling now,” a trader based in the coffee belt said. “Prices keep rising so they are holding off eyeing for bigger gains.”

– The trader said farmers may release beans in bulk from late December to cash in for the upcoming Lunar New Year.
Another trader said farmers had already done picking cherries and were drying beans.
March robusta coffee LRCc2 rose $228 to $2,769 in a week, as of Wednesday’s close, the highest level since July, LSEG data showed.

– Traders offered 5% black and broken-grade 2 robusta at a premium range of $40-$60 to the March contract.
Vietnam’s coffee exports in the first 11 months of 2023 were 1.4 million metric tons, down 10.4% from a year earlier, official data showed. Coffee export revenue for the period reached $4.33 billion, up 0.4% against January-November of 2022.

– Premiums on Indonesia’s Sumatran robusta narrowed this week to account for the increase in the benchmark coffee prices in London, traders in Lampung province said. Beans for January delivery were offered with $500 premium, down from $600 premium last week, one trader said.
Another trader offered a $550 premium for January-February contracts this week, down from around $710-$720 premium the trader offered last week for December-January contract.
“This is because the prices in London rose for three days straight. Meanwhile there are not that many beans coming in lately,” the trader said.

Source: (Reuters)