Vietnam Coffee Farmers Seen Selling 55% of Crop as Prices Rise
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Coffee farmers in Vietnam, the world’s largest producer of the robusta variety used to make instant drinks, sold 55 percent of their 2013-14 crop as local and futures prices rose, according to Volcafe Ltd.
Vietnamese coffee prices gained 18 percent in the local market this year as futures advanced and growers initially held back supplies, slowing exports, data from the Daklak Trade & Tourism Center on Bloomberg showed. Farmers in the Southeast Asian nation had sold 35 percent to 40 percent of the crop by Feb. 21, down from 53 percent a year earlier, Volcafe, a unit of ED&F Man Holdings Ltd., said in a report e-mailed that day.