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Home arrow News arrow Vietnam Jan coffee loading up, prices at 30 mth high - RTRS
Vietnam Jan coffee loading up, prices at 30 mth high - RTRS

     * Dec loading seen at up to 2.33 million bags 
    * Prices at 30-month peak spur farmers to slow sales   

   By Ho Binh Minh 
   HANOI, Jan 4 (Reuters) - Coffee exports from Vietnam are  picking up this month due to ample supply at the end of the  harvest, but 30-month high prices this week have prompted   farmers to slow their sales, traders said on Tuesday. 
   Farmers ended the harvest in most of the Central Highlands  coffee belt last week, about two weeks earlier than usual, to  save on labour costs and to protect beans from thieves. 
   Traders estimated coffee loading this month at 110,000 to  140,000 tonnes, near last month's level, while prices have  jumped 7.7 percent in the past month to 37.6-37.8 million dong  ($1,928-1,939) a tonne, the highest since July 3, 2008.  
  
  Traders estimated coffee loading this month at 110,000 to  140,000 tonnes, near last month's level, while prices have  jumped 7.7 percent in the past month to 37.6-37.8 million dong  ($1,928-1,939) a tonne, the highest since July 3, 2008. 
   Prices stood at 38 million dong a tonne in Daklak,  Vietnam's key growing province, on July 3, 2008. 
   "The export volume this month could rise as supported by  higher prices and good supply," said a Vietnamese trader at a  foreign company in Ho Chi Minh City.  
     The loading estimates, equivalent to 1.83-2.33 million  bags, is the first indication of the size of supply from the  world's second-largest coffee producer, after Vietnam ended  its harvest. 
   Vietnam's December coffee exports dropped an estimated  10.3 percent from the same month in 2009 to 2.2 million bags,  the government has said. [ID:nHAN139824] 
   It exported 141,000 tonnes of coffee in January 2010, when  the harvest ended. 
   London second-month robusta coffee futures <LRCc2> ended  2010 up 57 percent year-on-year at $2,097 per tonne on Friday,  from a close of $1,332 per tonne on December 31, 2009.       
   VIETNAMESE PRICES UP 56.5 PCT Y/R IN 2010 
   Coffee prices in Vietnam, which closely track London,  jumped 56.5 percent to 37.1 million dong per tonne on Dec. 31,  2010, from 23.7 million dong on Dec. 31, 2009. 
   "Farmers are selling moderately as they hope prices could  rise further," said a dealer in the central highland province  of Lam Dong. 
   The crop in Lam Dong, Vietnam's second-largest growing  province after Daklak, has been fully harvested, the dealer  said. 
   Farmers were holding back on hopes prices could rise  beyond 40 million dong a tonne, a record reached in 1995, he  said. Prices then rose to 41 million dong a tonne in Daklak on  March 7, 2008. 
   Discounts to London March contract stood at $150-$155 a  tonne this week, placing Vietnamese robusta grade 2, 5 percent  black and broken at $1,942-$1,947 a tonne, free-on-board  basis, up from $1,860-$1,870 a tonne last Tuesday.  <COFFEE/ASIA1> 
   Coffee is Vietnam's second-largest cash earner after rice  among the country's exportable agricultural products. The  government estimated the total coffee area rose 2 percent last  year to 548,200 hectares (1.35 million acres).  ($1=19,498 dong) 
  (Editing by Ramthan Hussain)  
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