By Khanh Vu and Mas Alina Arifin
HANOI/BANDAR LAMPUNG, Aug 15 (Reuters) – Vietnam’s domestic coffee prices stayed unchanged on Thursday from a week ago amid quiet trading activity, while the recent heavy rains in the country’s largest coffee-growing area did not cause any damage to the crops.
Farmers in the Central Highlands, Vietnam’s largest coffee-growing area, sold coffee at 35,000 dong ($1.51) per kg <COFVN-DAK>, flat from last week.
“It’s another quiet week as farmers have almost sold out their beans, and it will stay this quiet until mid-November,” a trader based in the Central Highlands said.
Vietnam’s 2019/2020 coffee crop year will officially begin in October, but traders said the harvest won’t really happen until November.
Heavy rains caused partial floods in the Central Highlands earlier this month, but traders said the downpour did not damage the coffee trees as they grown on higher ground.
“On the contrary, the rain has helped local dams to store more water for future use,” the trader said.
Traders in Vietnam offered the 5% black and broken grade 2 robusta <COFVN-G25-SAI> at a $170-$180 premium per tonne to the November contract. They offered $200 premium per tonne to the September contract last week.
November robusta coffee settled up $6, or 0.5%, at $1,338 per tonne on Wednesday.
Meanwhile, Indonesian robusta beans were offered at $170-$220 premium to November contract, traders in Sumatra’s Lampung province said. That compared with a range of $170-$200 premium last week.
“Supply is starting to dwindle since coffee harvest is ending soon,” one of the traders said. ($1 = 23,208 dong) (Reporting by Khanh Vu in HANOI and in HANOI and Mas Alina Arifin in BANDAR LAMPUNG; editing by Gopakumar Warrier)