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Barchart
Barchart
Rich Asplund

Robusta Coffee Climbs to a 15-Year High on Global Supply Concerns

Ice Brazil arabica USDA

July arabica coffee (KCN23) this morning is down -2.75 (-1.45%), and July ICE robusta coffee (RMN23) is up +18 (+0.72%).

Coffee prices this morning are mixed, with July robusta posting a contract high and nearest-futures (K23) robusta posting a 15-year high.  A stronger dollar today is weighing on arabica prices while supply concerns are boosting robusta prices.  Robusta coffee has carryover support from last Tuesday when Vietnam's General Department of Vietnam Customs reported Vietnam's Apr coffee exports fell -22% m/m at 163,607 MT, and Jan-Apr coffee exports are down -5.5% y/y at 716,580 MT.  Vietnam is the world's largest producer of robusta coffee beans.

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