Apr 6, 2012

Singapore - Indonesian roasters seek Vietnam coffee


INTERNATIONAL trading houses have started offering higher-grade Vietnamese robusta to Indonesian roasters who are struggling to get beans from the domestic market despite the current harvest, dealers said yesterday.!

Vietnam's grade 1, screen 16 variety was quoted at premiums of between US$40 and US$70 a tonne to London's July contract , with no reports of deals yet. Indonesian robusta was offered at a hefty premium of more than $200 above London futures for prompt delivery.!

"We've heard about buying interest from local roasters for April to September shipments. But their bid prices don't match the levels that we want to sell," said a dealer at trading house in Bandar Lampung, the provincial capital of Lampung on Sumatra. "They want to buy the beans at prices on par with London prices, FOB." !

Robusta exports from the main growing island of Sumatra slumped 83 percent in March from a year earlier, government trade data showed on Tuesday, as falling output prompted producers to hold on to sparse stocks. !

Late last year, roasters from the Java island turned to Vietnamese beans after tight supply ahead of the new harvest in 2012 had sent premiums for Sumatran beans to a record at $550 a tonne.

Reuters



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