Robusta Coffee Rises Most Since 2010 on Vietnam Rain Concerns
- Prices have eased from highs, but more rain needed in Vietnam
- Robusta demand strong despite elevated prices: Illycaffe
A cocoa pod on a tree, near Agboville, Ivory Coast.
Photographer: Issouf Sanogo/AFP/Getty ImagesThis article is for subscribers only.
Coffee futures surged, with robusta in London jumping the most intraday since 2010 as concerns grew over supply from key grower Vietnam.
Robusta coffee rose as much as 7%, while arabica gained 6%. Prices for robusta beans used in instant coffee have surged this year as droughts hurt production in Vietnam, the top grower of the variety, before easing earlier this month. Rains have helped to improve the supply picture, but more may still be needed.