Prices fall further in Vietnam on thin trade as Tropical Storm Trami approaches
By Phuong Nguyen and Mas Alina Arafin
HANOI/BANDAR LAMPUNG, Indonesia, Oct 24 (Reuters) -Domestic prices in Vietnam edged down further this week on thin trading activity at a time when a storm is heading near the coffee growing area of the country, while supplies were dwindling in Indonesia, traders said on Thursday.
Farmers in the Central Highlands, Vietnam's largest coffee-growing area, sold beans COFVN-DAK for 109,000-110,000 dong ($4.29-$4.33) per kg, down from last week's 113,300-113,800 dong range.
Tropical Storm Trami, which is possibly heading to central Vietnam after having wreaked havoc in the Philippines, may trigger heavy rains in several parts of the country.
"The storm has not made landfall yet. It is still early to anticipate the impact on the coffee belt at the moment but heavy rains possibly prevent cherry picking process," a trader based in the coffee belt said.
Robusta coffee LRCc2 for January delivery settled up $18 at $4,437 per metric ton as of Wednesday's close.
Another trader based in the same area said traders had started to seek for beans but "in an extremely cautious manner".
In Indonesia, Sumatra Robusta coffee beans were offered at $200 premium to the November-December contract, compared with $300 premium to the January-February contract a week ago as "bean supplies are getting thin", a trader said.
Another trader quoted $200 premium to the January contract, up from $120-$130 last week "as an adjustment to the London price".
($1 = 25,395.0000 dong)
Reporting by Phuong Nguyen and Mas Alina Arifin; Editing by Mrigank Dhaniwala
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