Vietnam Coffee Discount Said to Be Narrow on Delayed Harvest
The discount buyers are demanding for coffee from Vietnam, the world’s largest producer of robusta beans, continued to narrow in the past week, as rains delayed the country’s coffee harvest, traders said.
Beans from the 2011-12 season are selling at a discount of $20 to $40 a metric ton to the price on the NYSE Liffe exchange in London, according to three traders, who have direct knowledge of the prices and declined to be identified because they aren’t authorized to speak to the media. The discount was $30 to $40 a ton a week ago and $50 to $60 a ton on Oct. 7.
“The prolonged rains did slow things down, but there is no indication to believe the crop is going to suffer in size,” Volcafe, the coffee unit of commodities trade ED&F Man Holdings Ltd., said in a report
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