Asia Coffee-Robusta traded; Indonesian beans stay at premiums

jueves 26 de junio de 2014 02:26 GYT
 

* Indonesian beans sold at $10 premiums

* Vietnam beans traded at $10-$15 discounts

By Lewa Pardomuan

SINGAPORE, June 26 (Reuters) - Roasters purchased several cargoes of robustas in a series of deals this week, with Indonesian beans traded at premiums to London futures due to uncertainties about the crop, dealers said on Thursday.

The current harvest in the world's third-largest coffee producer after Brazil and Vietnam was expected to reach its peak this month, but exporters were confronted with erratic daily arrivals from plantations to key export ports.

Indonesia competes with neighbouring Vietnam in the robusta market. The bitter-tasting robusta beans are either blended with higher-quality arabica for a lower-cost brewed coffee or processed into instant coffee.

Sumatran grade 4, 80 defect beans were traded at premiums of $10 a tonne to London futures, with offers unchanged from last week at $30 a tonne. Dealers dismissed talk that sellers in Indonesia had begun offering beans at prices below London.

"It's hard to get beans actually. I don't think farmers are holding back beans because they are happy with the current prices. They also need cash before the fasting month," said a dealer in Sumatra.

"Daily arrivals hit 5,000 to 6,000 tonnes on Monday. But from Tuesday to today, they reached between 2,500 and 3,000 tonnes each day. I think buyers are hoping that Indonesia will sell beans at discounts, but it's not happening."   Continuación...