Robusta Coffee Jumps to 15-Year High on Tightening Global Supply
- Production in Indonesia is projected to drop 20% in 2023-24
- Premium of arabica beans over cheaper robusta variety narrows
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Robusta coffee climbed to the highest since 2008 as forecasts for lower output in key producers threaten to tighten global supply.
Production in Indonesia, the third-biggest robusta grower, is projected to fall by 20% to 8.4 million bags in 2023-24 after heavy rains hindered pollination, while the increased humidity hit bean quality. Brazil’s coffee production is also seen falling, mostly due to lower robusta yields. Output and stockpiles are also expected to drop in top exporter Vietnam.