March arabica coffee (KCH25) today is up +9.70 (+3.03%), and March ICE robusta coffee (RMH25) is up +219 (+4.49%).
Coffee prices today are sharply higher, led by a surge in robusta coffee to a 1-1/2 week high on concern that ongoing heavy rain in Vietnam will further disrupt harvesting. Robusta coffee has support on smaller supplies from Vietnam when the Vietnam General Department of Customs on December 18 reported that Vietnam Nov coffee exports plunged -47 % y/y to 63,019 MT, and Jan-Nov coffee exports are down -14% y/y at 1.22 MMT. Recent rain in Vietnam flooded coffee fields and delayed the robusta coffee harvest. Vietnam, the world's biggest robusta producer, is at the start of its coffee harvest.
