Markets, businesses and government offices in Vietnam, the world's largest robusta producer, will close during the first week of February for the holiday, locally called Tet. "Many coffee farming and processing firms in the Central Highlands have started allowing their workers to go home for Tet and I think trading activities won't pick up until after the holiday," said a trader based in Dak Lak province. Farmers in the Central Highlands, the country's key coffee growing area, sold coffee at 32,900-33,600 dong ($1.42-$1.45) per kg on Thursday, down from 3,500-34,000 dong a week earlier. "Farmers will hold their beans if prices stay low, but I think they won't be able to hold for long, given that Brazil is expected to start their robusta harvest sometime in April," the trader said.
Markets, businesses and government offices in Vietnam, the world's largest robusta producer, will close during the first week of February for the holiday, locally called Tet. "Many coffee farming and processing firms in the Central Highlands have started allowing their workers to go home for Tet and I think trading activities won't pick up until after the holiday," said a trader based in Dak Lak province. Farmers in the Central Highlands, the country's key coffee growing area, sold coffee at 32,900-33,600 dong ($1.42-$1.45) per kg on Thursday, down from 3,500-34,000 dong a week earlier. "Farmers will hold their beans if prices stay low, but I think they won't be able to hold for long, given that Brazil is expected to start their robusta harvest sometime in April," the trader said.