Global: Robusta has become the most expensive coffee variety since the 1970s

Camphor coffee prices have surged to their highest levels in 45 years due to supply issues, particularly impacting espressos and instant drinks, as reported by the International Coffee Organization (ICO). The ICO wholesale price index saw a 17% increase in April, the highest since 1979, primarily due to crop failures in Vietnam, the largest producer of Robusta coffee. Ongoing drought and heat are expected to further affect Vietnam's coffee production, potentially impacting the 2024 harvest. However, there are signs of recovery as hedge funds reduce bets on price increases and an increase in arabica bean supply helps to stabilize costs.

Camphor coffee prices have reached record levels in the last 45 years, according to the International Coffee Organization (ICO). The rise was driven by problems in its supply, used in espressos and instant drinks, according to Bloomberg. The ICO wholesale price index increased by 17% in April, reaching the highest level since 1979, as per a recent report. Vietnam, the world's largest producer of the Robusta variety, continues to face supply difficulties following crop failures in recent seasons. “These problems could worsen as drought and heat affect Vietnam's growing areas, depleting water for irrigation and reducing prospects for the upcoming 2024 harvest,” the publication states. Futures in London have risen in five of the last six months, which could end up being reflected in ...