By Mas Alina Arifin

Feb 10 (Reuters)Activities on the first trading days after a week-long holiday break were lacklustre in Vietnam with no major deals, according to traders on Thursday, while traders in Indonesia were expecting a harvest in May-June.

Farmers in the Central Highlands sold coffee COFVN-DAK at 39,900-40,600 dong ($1.76-$1.79) per kg, higher than prices offered before the Lunar New Year or Tet holiday of 38,800-40,200 dong.

“Market is still dull. The prices inch higher than pre-Tet’s level but are still below farmer’s expectation of at least 43,000 dong per kg,” said a trader based in the coffee belt.

“Some farmers are still on holiday and are not selling yet, so no export transaction has been sealed.”

Traders in Vietnam offered 5% black and broken grade 2 robusta COFVN-G25-SAI at discounts of $250-$300. The discounts were $270-$280 before holiday.

May robusta coffee LRCc2 settled up $25, or 1%, to stand at $2,259 a tonne on Wednesday.

Indonesia exported 15,684.23 tonnes of robusta coffee beans from its Sumatran province of Lampung in January, data from the local trade office showed.

Sumatran robusta beans were offered at discounts of $120-$130 to the May contract, compared with $120 discount to the Feb-April contract two weeks ago.

Another trader said the prices were unchanged with $200 discount to the May contract, compared with $200 discount to the March contract before the Lunar New Year.

“Prices are still stable because coffee trading is still quiet after Lunar New Year holiday,” one trader said.

Coffee farmers in some areas in west Lampung said small flowers began to appear and expect harvest in May-June.

($1 = 22,692 dong)

(Reporting by Mas Alina Arifin in Bandar Lampung; Editing by Shailesh Kuber)

Source: Nasdaq


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