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Barchart
Barchart
Rich Asplund

Coffee Prices Finish Sharply Higher as Drought in Vietnam Curbs Coffee Production

Ice Vietnam Drought Brazil International Coffee Organization Rabobank USDA

May arabica coffee (KCK24) on Wednesday closed up +5.85 (+2.96%), and May ICE robusta coffee (RMK24) closed up +149 (+4.07%).

Coffee prices Wednesday rallied sharply for a second day, with arabica posting a 3-1/2 month high and robusta posting a new record high.  Concern that excessive dryness in Vietnam will limit the country's robusta coffee production is pushing robusta prices sharply higher and providing carryover support to arabica coffee prices.  Coffee importer DRWakefield said Wednesday that "weather conditions in Vietnam are not encouraging, and there are concerns over a possible water shortage for irrigation, which may hurt the coffee output for next season."

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