"Exporters are selling, trade is relatively robust now, much better than last week," said independent analyst Nguyen Quang Binh. Robusta grade 2, 5 percent black and broken in Vietnam, the world's top robusta producer, were traded at premiums of $30-$40 a tonne to the ICE March contract this week, rising from premiums of $20-$35 last Tuesday despite lower futures prices.
Robusta futures have been falling in line with lower crude oil prices. ICE March robusta contract was traded down $41 at $1,444 a tonne on Monday, falling nearly 9 percent so far in the 2015/16 season that began on Oct. 1. Low domestic prices have prevented growers from rushing to unload stocks. Domestic prices declined further to 31.6-32.5 million dong ($1,408.51-$1,448.63) a tonne from 33.3-33.8 million dong a week ago, the lowest level since November 2013, Reuters data showed. "With this price level, growers will not take enough care of the trees," said Van Thanh Huy, chairman of exporter Inexim Daklak. "This may partly affect 2016/2017 output", he added.