Global coffee market September 27; shortage of supply in Brazil and Vietnam continues to put upward pressure on prices

In the world market, the price of robusta for November 2024 delivery on the London floor increased by 1.5%, closing at 5,527 USD/ton. The price of arabica for December 2024 delivery on the New York floor increased by 1.8% to 273.9 US cents/lb, after reaching a 13-year high of 275.05 US cents/lb. Highlights: - Vietnamese traders said the current weather is still supporting crops but trading is still quite quiet. A trader in the Central Highlands coffee belt said “some traders have started looking for coffee but in a very cautious way because some are still facing financial problems since the end of last year when prices started to skyrocket, while others are uncertain about the weather conditions in the coming days”. - Vietnam accounts for about 30% of the global supply of robusta, the type of coffee mainly used for instant drinks and espresso blends. However, drought, followed by weeks of heavy rain, has severely affected many growing regions ahead of the harvest that is due to ...