Coffee's stable, trade slow

Coffee's stable, trade slow

SINGAPORE (Reuters): Sales of coffee beans from Indonesia were stable but slow at prices hovering around recent levels, dealers said yesterday.

Indonesian beans were offered at around $160 per tonne under London levels, little changed from earlier this week.

"Most deals are still done in small lots. Bits and pieces. Not much is going on," said one trader in Singapore.

As coffee futures on the London International Financial Futures Exchange (LIFFE) lost some of the their recent gains, sentiment in the Far East was slower, traders said.

Indonesia's harvests are expected to last until September and the crop is estimated at 330,000 tonnes for this year.

Trade in Vietnam entered a standstill with offers similar to levels in Indonesia, traders said.

Vietnam's next harvest starts in October.