Coffee buyers to be warned untrued news of coffee speculators

fake news everywhere! so does coffee business.

This time, there is not much stocked coffee for traders to buy for temporary stocks.

( This is most likely the unverified information of speculators to disrupt the domestic market before the start of the new season.

On some coffee prices – focused websites summarize that the green coffee prices are still low at around 37,000 dongs/ kg even crop year 2013 – 2014 soon to begin; therefore, coffee exporters of sound finance are flock to purchase for temporary storage, waiting for the price to be up.

This is a controversy against the reality of previous crops because in the beginning of new crop the supply of coffee is often scarce leading to quite high prices.

In fact, green Robusta coffee’s prices in Daklak, Gia Lai and Lam Dong are at 36,000 dongs/ kg dated September 18th 2013, only Daknong is 36,000 dongs/ kg.

As compared to the average price of 2012-2013’s crop year at 41,000 dongs/ kg, it is obvious that this price is very beneficial for purchasing and this is a good time for sound-financed enterprises to buy in for temporary storage.

However, Ms. Tran Thi Minh Nguyet, deputy director of a local coffee trader in Daklak province, says: “The news that coffee traders rushed to buy coffees for temporary storage is inaccurate.”

According to Nguyet, because this is the late season, the company has no inventory; but this time, if you want to buy for temporary storage, there is not much supply source. Until 11/2013, coffee traders will have been able to buy coffee of crop year 2013-2014.

Thanh, who shares the same opinion, branch director of a local trader in Lam Dong, said that it was very difficult to buy coffee now due to the scarceness of supply.

“Our branch has 4 employees those who are temporarily redundant to wait until the new crop starts at 11/2013 to get back to work,” says Thanh and he thinks that this might be an unverified rumor of speculators to confuse the market before the start of the new season.

Not only this trader but also most big companies which do business in buying and processing coffee in Bao Loc all have their staffs been temporarily redundant from 4/2013 until now because there are not many coffees for buying and processing.

This proves that it is unlikely for coffee buyers to boost their purchasing for temporary stock.

Some says that financial preparation of coffee buyers for buying temporary stock before crop 2013-2014 is very necessary; this will help to keep a good price for coffee growers.

However, firms should also be aware of rumored news of coffee; otherwise, that could be very easy to lead to a “virtual” racing and eventually, the beneficiaries will be speculators, foreign – invested companies with strong capital and the losses are Vietnamese coffee buyers and local coffee growers.

»Translated by> original source by, author: Thanh Vu. W/scafe takes its all responsibilities of the accuracy and exactness of the translated documents.

Coffee buyers to be warned untrued news of coffee speculators
Quyen Nguyen Van March 23, 2024
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