MILAN – According to customs data released by the country’s General Statistics Office, Vietnam’s coffee exports in March fell 24 percent from a year earlier to 160,000 tonnes. Shipments in the first quarter of the year fell 15.3 percent to 477,000 tonnes.
Traders said low prices have discouraged farmers from selling their beans and put a break on exports. Robusta coffee futures in London hit a three-year low this week in London.
Farmers in Vietnam’s Central Highlands sold coffee at 31,600-32,500 ($1.36-$1.40) per kg on Thursday, down from a range of 32,000-33,100 dong last week. Prices fell to as low as 30,700 earlier this week.
Traders in Vietnam offered 5 percent black and broken grade 2 robusta at a $75 per tonne discount to the July contract, compared with a $30-$50 discount last week.
Meanwhile, in Indonesia, premium expanded this week to compensate for the recent drop in the benchmark London prices.
