Vietnam’s coffee grower had sold 29% of this year’s crop by the end of January, versus 36% this time last year, according to the median of 12 trader estimates compiled by Bloomberg last week.
Coffee production in CY 2014/15 is expected to be 7% lower at 1.6 million tons, says the same survey.
“Farmers are very well financed after a good crop,” a senior commodity analyst was quoted as saying by the same source “They are in no hurry to sell.”
“Farmers are very persistent in holding back sales because they expect prices to rise after the Lunar New Year holiday” (Feb. 16-23), Phan Hung Anh, deputy director of Dak Lak-based Anh Minh Co. was reported asa saying.
