date:Jul 26, 2013
damage to Brazil's coffee crop subsided. The contract rallied to a 2-month high at $1,999 last week.
Rising supply from rival Indonesia also prompted farmers in Vietnam to release stocks, taking advantage of demand from foreign trading houses. Indonesia and Vietnam together account for nearly a quarter of the world's coffee output.
I've bought beans at $75 premiums. Vietnam doesn't want to hold much stock anymore and supply is on the rise in Indonesia, said a dealer in Singapore.
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