| Vietnam Coffee-Prices fall, holders reluctant to sell beans |
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HANOI, Sept 14 (Reuters) - Coffee prices in Vietnam continued to slip over the past week, encouraging holders to sit on the remaining beans in their warehouses, traders said on Tuesday.
Prices were in line with world markets where Liffe November robusta coffee settled down $12 at $1,571 on Monday. Prices slipped more than 9 percent in August, its biggest monthly drop in over a year. In the top coffee-growing province of Daklak, beans were on sale at 27,700 dong ($1.42) per kg on Tuesday, down by 600 dong from a week earlier. Some exporters in Daklak's capital city of Buon Ma Thuot sought to buy coffee from holders by raising the price to 28,300 dong ($1.45), traders said. In neighbouring central highland provinces of Lam Dong, Gia Lai and Dak Nong, beans were at around 27,600 dong. "Exporters are not keen on selling at this point of time, as prices in the world market have stayed low," said a trader at a foreign-invested exporter in Buon Ma Thuot. Some exporters have not even announced discounts for the beans, making for quiet trading, he added. Several exporters set the discounts for the beans at $90-100 a tonne to the London November contract, while others offered a discount of $70-75 a tonne, traders said. Quotations for Vietnamese robusta grade 2, 5 percent black and broken, therefore, stood at $1,471-1,501 a tonne, on a free-on-board basis. Vietnam's market is approaching the end of the 2009/2010 harvest season while the 2010/2011 harvest is due to start in December, more than a month later than usual due to a late start of the monsoon season and prolonged rains in the Central Highlands coffee belt. The weather in Daklak was favourable for coffee cherries over the last week, with few showers, the Buon Ma Thuot-based trader said. ($1=19,470 dong) (Reporting by Ngo Thi Ngoc Chau; Editing by John Ruwitch, Himani Sarkar) Địa chỉ email này đang được bảo vệ khỏi chương trình thư rác, bạn cần bật Javascript để xem nó )) Keywords: MARKETS VIETNAM/COFFEE Tuesday, 14 September 2010 14:57: |