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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