SINGAPORE (Dow Jones)--Vietnam's coffee farmers are still holding around
15-20% of their April harvest, having missed an earlier opportunities to sell,
said traders.
"You can't see much coffee in the warehouses but with the farmers on their
plantations," said a trader based in Ho Chi Minh City.
Farmers are unlikely to get a higher price because roasters are carrying
ample stocks, traders said. Vietnam's coffee farmers held on to their stocks
earlier this year to get a better rate, losing market to Indonesian robustas
and Brazilian connillons.
The country exported around 85,000 tons of robusta
coffee in May.
"Now they are left with significant carryover stock but buying demand is low
as roasters seem to be well covered," said a trader based in Singapore.
Vietnam is the world's largest producer and exporter of robusta coffee, with
an estimated output of around 1 million tons in the crop year that started Oct.
1.
-By Tor Ching Li, Dow Jones Newswires; 65 6415 4086; shingle.tor@dowjones.com
(END) Dow Jones Newswires