Le Tien Hung, the general director of Simexco Dak Lak, one of the country’s largest coffee exporters, told Bloomberg this would be a record. He was very hopeful since Dak Lak Province, the nation’s coffee capital, has been blessed with lots of rain this year, he said. Favorable rains and plantings of new high-yielding varieties in multiple farms in Vietnam’s “coffee capital” of Dak Lak helps explain the higher output, he said. But some analysts were less sanguine about the bumper crop, saying since Vietnam is one of the world’s largest robusta producers, a record harvest would create a supply overhang and drag global prices down. The Ministry of Agriculture and Rural Development had reported in June that coffee prices were decreasing in the Central Highlands, Vietnam’s largest coffee-producing region, which also produces much of the country’s black pepper, since the beginning of the year, and were unlikely to recover soon. … [Read more...] about Good weather set to bring cheer to Vietnam coffee farmers
Vietnam coffee farmers
Good weather set to bring cheer to Vietnam coffee farmers (sent to Radha)
By Dang Khoa  August 3, 2018 | 11:00 am GMT+7 Vietnam could break coffee crop record in next season. Favourable weather conditions could see Vietnam produce 1.8 million metric tons of coffee this year, industry insiders have said. Le Tien Hung, the general director of Simexco Dak Lak, one of the country’s largest coffee exporters, told news agency Bloomberg this would be a record. He was very hopeful since Dak Lak Province, the nation’s coffee capital, has been blessed with lots of rain this year, he said. Farmers in the Central Highlands province have begun planting (huh, begun? When? You don’t plant coffee every season. The tree fruits for around 20 years) high-yield varieties and this would also contribute to the high output, he said. But some analysts were less sanguine about the bumper crop, saying since Vietnam is one of the world’s largest robusta producers, a record harvest would create a supply overhang and drag global prices … [Read more...] about Good weather set to bring cheer to Vietnam coffee farmers (sent to Radha)
Vietnam coffee farmers sell more as prices rise
The Hanoi Times - Coffee sales in Vietnam further strengthened in the past week as farmers sold more stocks of the commodity to exploit higher prices and strong demand from exporters, traders said They said domestic prices had risen more than 6 percent in the past month on robust demand from foreign buyers as well as higher London futures prices. On Tuesday, the industry body Vietnam Coffee Association (Vicofa) said domestic prices in Daklak, Lam Dong and Gia Lai, the country's largest growing provinces, averaged VND24,900 - VND25,000 ($1.4-$1.41) per kg, from VND24,800 on Monday and VND23,500 a month ago. Free-on-board prices for spot shipments stood at $1,450 a ton on Tuesday, up $15 from $1,435 on Monday and $1,430 a ton a week ago, Vicofa said. "We expect sales from farmers to stay strong throughout this week as the current price level should encourage them to unload stocks," a trader in Daklak capital Buon Ma Thuot said. Traders said discounts to London's May … [Read more...] about Vietnam coffee farmers sell more as prices rise
Vietnam coffee farmers increase selling ahead of Lunar New Year
Coffee farmers in Vietnam, the world’s biggest grower of robusta, are selling more beans before the Lunar New Year holidays, according to traders including Nguyen Van An of Thai Hoa Production and Trading Corp. “It’s easier for us to buy coffee from farmers now than last month because they are selling more to get cash for Tet,†An said by telephone Thursday from Hanoi. Vietnam’s ‘Tet’ Lunar New Year festival is next week. … [Read more...] about Vietnam coffee farmers increase selling ahead of Lunar New Year
Coffee farmers to join e-trading floor
Vietnamese coffee businesses and farmers have agreed to begin trading on the direct farm produce trading floor, which is scheduled to open in the Central Highlands province of Dak Lak, the country’s coffee capital, on Dec. 12. Nguyen Tuan Ha, Director of the Dak Lak Coffee Trading Floor, stated that the floor’s operation will be aimed at establishing a transparent and dedicated market for domestic and foreign organisations and individuals involved in coffee trading, bringing it in line with current world trends. An estimated 100 businesses will be represented on the trading floor. Ha added that there will be a total storage capacity of 30,000 tonnes of coffee at the trading floor, which will be available for farmers to consign their products ahead of any transactions. According to the Vietnam Cacao and Coffee Association, Vietnam is expected to earn 2 billion USD from coffee exports as the price of Vietnamese coffee has been rising steadily. The country exported 1.6 … [Read more...] about Coffee farmers to join e-trading floor