The Asian coffee market as a whole is stable and the price of high-quality coffee in Vietnam has fallen.
According to Reuters on May 4, some traders said that the coffee export market was generally stable this week, the price of high-quality coffee in Vietnam fell, the price in London rebounded, while Indonesia faced a wide range of discounts due to the stable supply of coffee beans.
The London Intercontinental Exchange contract in July showed it rebounded for the third time in a row, rising 1.95% on the 3rd to close to $2.034 a ton.
Reported that Vietnam is the world's largest producer of robusta coffee beans. The price of 5% black and broken grade 2 Robusta coffee beans on the London Intercontinental Exchange has shrunk from $40 to $50 a week ago to $20 to $30 per ton.
It is reported that the local trading price of coffee in Vietnam has risen from 43000 dong per kilogram on April 30 to 4.48 to 4.50 dong. However, the trading volume is very small because farmers are slow to sell in search of higher prices.
"Farmers are waiting for the price of coffee beans to return to previous levels before selling," said Nguang Guang Ping, an independent analyst in Vietnam. "
Vietnam exported about 604000 tons of coffee beans in the first quarter of 2017, down 8.8 percent from 2018, the government said Friday. Coffee beans exported about 150000 tons in April, well above market expectations of 10 to 130000 tons.
"this is because prices have fallen sharply in London," said a trader in Lampung province of Indonesia. " He added that huge discounts will make traders take a wait-and-see attitude. As the bumper harvest continues, the market supply will remain stable.
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