More coffee deals may be on brewing<\/p>\n
SINGAPORE (Reuters): Indonesian farmers have started to offer
\nmore coffee beans as their harvest begins to peak and more deals
\ncould be struck in coming weeks, traders said yesterday.<\/p>\n
In Vietnam, another main Asian coffee supplier, traders said
\nthere were still between 20,000 and 30,000 tons of beans for
\nexport, but activities had slowed and the market would stay quiet
\nuntil after October, when the next harvesting kicks in.<\/p>\n
\"Farmers in Indonesia now are more willing to sell than a week
\nago as more beans are coming out,\" said one Singapore-based
\ntrader.<\/p>\n
The crop, expected to reach 330,000 tons this year, has been
\ncoming smoothly but recent rains in Indonesia slightly delayed
\nsome deliveries.<\/p>\n
\"The coffee flow is smaller and slower than we had expected
\nthis year, but overall it's all right and we are seeing steady
\nsales from the Indonesians,\" the trader said.<\/p>\n
Between 500 and 1,000 tons arrive daily at Indonesia's major
\ntrading center of Bandar Lampung, seen by traders as \"normal and
\nsteady\" flows, and small lots of Indonesian supplies were heard
\ndone in the past week.<\/p>\n
\"We will see more activities next week,\" said one trader at a
\nEuropean trading house.<\/p>\n
Price falls in the West continued to depress levels in Asia,
\ntraders said.<\/p>\n
\"As London prices are soft, local prices in Indonesia and
\nVietnam are also coming down,\" said a Bangkok-based trader.<\/p>\n
In London on Tuesday, benchmark September ended at $1,544,
\ncompared with $1,594 a week ago.<\/p>\n
Traders said a shortage of containers, a result of soaring
\nexports from Asia and slumping imports, might worsen as
\nIndonesia's harvest peaks later this month.<\/p>\n
The harvest is expected to last through September.<\/p>\n
\"We have slight container problems now but it's not serious.
\nIt will become more difficult to get containers in coming weeks,\"
\nthe trader said.<\/p>\n
Indonesian supplies were offered at around $130\/$160 per ton
\nunder London levels, compared with $150\/$200 a week ago.<\/p>\n
Vietnam's benchmark grade 2, five percent black and broken
\nbeans were seen by the trade at $90\/$130 under, against $110\/$140
\na week ago.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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