Robusta coffee prices surge this week to new highs

Concerns are also mounting over next season’s output, with Vietnam expected to remain dry for the next five days

Prices are up 5.4% this week and have been driven higher by less output in top robusta grower Vietnam and low inventories.

Robusta coffee climbed to a fresh record in London trade on worries that poorer output will fuel bean shortages. The arabica variety also rallied and cocoa neared its recent all-time high.

Futures for robusta, the cheaper coffee type used in instant drinks, rose as much as 2.4% to the highest in data going back to 2008. Prices are up 5.4% this week and have been driven higher by less output in top robusta grower Vietnam and low inventories.