Robusta Coffee Hits Fresh Record as Dry Weather Risks Next Crop
- Threat of water shortage could limit production in Vietnam
- Prices of premium arabica bean rise with support from robusta
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Robusta coffee climbed to a fresh high in London as a heat wave threatens production in top exporter Vietnam, adding to concerns over tight global supplies of the beans used in instant drinks.
The most-active contract advanced as much as 4.8% to $3,838 per metric ton in London, a record in data going back to 2008. Futures are up more than 30% this year.