Robusta Coffee Rebounds From Two-Week Low Amid Suez Threat
- Dislodging the Suez Canal ship is said to need at least a week
- Robusta supply chain from Southeast Asia is already stretched
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Robusta coffee rebounded from a two-week low on concerns that cargo hold-ups due to the blocked Suez Canal could further hamper a stretched supply chain.
European coffee roasters were already struggling to get supplies from top robusta producer Vietnam because of a global shipping container crunch, and all of the beans Europe imports from East Africa and Asia flow through the key waterway. The disruption means boxes will not only be stuck at ships in the canal, but will back up at ports like Antwerp and Rotterdam when traffic clears up, said Hans Hendriksen, who has traded cocoa and coffee for four decades.