Coffee farmers in Indonesia, the world’s third-largest producer of robusta beans, are finding it difficult to dry their coffee due to rains, Hamburg-based broker Eugen Atte said.
Drying is being hampered “as rainfall didn’t stop during the last days in the coffee areas,” the broker said yesterday in a report on its website.
Indonesian coffee is trading at a premium to the price on the NYSE Liffe exchange in London for the first time this year, the broker said. Coffee beans are priced at $60 a metric ton above the exchange value, data from the brokerage showed.
Robusta coffee for July delivery retreated $3, or 0.1 percent, to $2,579 a ton by 11:43 a.m. inLondon.
Indonesia’s coffee production will decline about 25 percent to 8.5 million bags in the current crop year, the London-based International Coffee Organization estimated on April 6.
Bean shipments from the port of Panjang climbed to 21,000 tons in April, almost double the amount a year earlier, Atte said. Exports from the port totaled 11,359 tons in April 2010, data from Dutch trader Nedcoffee BV showed. Coffee sales from Indonesia accelerated in response to London prices, European coffee brokers said on March 18.
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