Coffee prices in Vietnam edge up

HANOI/BANDAR LAMPUNG, Indonesia, Feb 27 (Reuters): Domestic coffee prices in Vietnam edged higher this week on scarce supply, while trading activities in Indonesia remained sluggish, traders said on Thursday.

Farmers in the Central Highlands, Vietnam's largest coffee-growing area, sold coffee at 32,000 dong ($1.38) per kg, up from 31,500 dong last week.

Coffee shipments from Vietnam were estimated at 150,000 tonnes in February, slightly higher than last month's 145,000 tonnes, traders said. However, exports would be lower in the next two months.

"We are struggling to buy beans for the upcoming deliveries," said a trader based in Ho Chi Minh City.

"Farmers are not willing to sell at current prices but we couldn't offer higher given the low London prices and the coronavirus epidemic that has shaken global markets."

May robusta coffee settled up $22, or 1.73 per cent, at $1,295 per tonne on Wednesday.

"Prices have been exceptionally low, staying below $1,400 per tonne for nearly three months," said another trader based in the Central Highlands.