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HANOI/BANDAR LAMPUNG: Vietnam’s Central Highlands is predicted to face heavy rains this week that will disrupt espresso harvest within the nation’s largest coffee-growing space, whereas provides tightened in Indonesia on the finish of the harvest, merchants mentioned on Thursday.
Rains would begin from late Thursday till Saturday within the Central Highlands’ Kon Tum, Gia Lai, Dak Lak and Dak Nong provinces, the Nationwide Meteorological and Hydrological Middle forecast.
“Rains could stop beans from turning ripe and prepared for harvest,” mentioned a dealer based mostly within the espresso belt of Dak Lak.
“Cherry choosing and processing could be delayed in some elements because of this.” In line with merchants, rains presently of the yr are worrisome as they’ve direct impression on each the amount and high quality of beans. Farmers within the Central Highlands, Vietnam’s largest coffee-growing space, bought beans at 46,100-47,000 dong ($1.92-$1.95) per kilogram, in contrast with final week’s vary of 46,600-47,000 dong. Merchants in Vietnam provided 5% black and damaged grade 2 robusta at a reduction of $100-$130 per tonne to the January contract. January robusta futures on ICE settled down $19, or 1%, at $2,141 per tonne on Wednesday.
Vietnam’s espresso exports in September had been down 17.8% from the month earlier than at 92,550 tonnes, authorities customs knowledge confirmed. For the primary 9 months of 2022, Vietnam exported 1.34 million tonnes of espresso, up 13.1% from a yr earlier. In Indonesia’s Lampung province, some merchants elevated costs of Sumatran robusta beans this week as harvest ended.
Beans had been provided at a reduction of $50 to the November contract, one dealer mentioned, in contrast with a reduction of $80-$90 final week. “Inventory is restricted, whereas demand from exporters was fairly robust regardless of increased costs,” the dealer mentioned. One other dealer provided a reduction of $30-$40 to the November and December contracts, unchanged from final week.
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