Reuters have reported that internal coffee trade in Vietnam is quiet as traders await the new crop season due to begin next week and peak around mid-November, while farmers current crop season stocks have almost been depleted.
The November to December contracts arbitrage between the London and New York markets narrowed yesterday; to register this at 41.25 usc/Lb. This equates to 40.90% price discount for the London Robusta coffee market.
The Certified washed Arabica coffee stocks held against the New York exchange were seen to decrease by 12,410 bags yesterday; to register these stocks at 2,283,842 bags. There was a smaller in number decrease to the number of bags pending grade to this exchange, by 914 bags; to register these pending grading stocks at 29,500 bags. "
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