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According to a research released in April by the London-based International Coffee Organization (ICO), the price of Robusta coffee has reached a 45-year high since July 1979.
Its data shows that Robusta wholesale prices grew by about 17% from March to an average of $1.94 per pound (or around $0.88 per kilogram) in April. The main producer of the variety in the world, Vietnam, is "facing supply difficulties" as a result of subpar crops this season and previous.
According to Bloomberg, a hot wave that is dwindling irrigation water resources and decreasing the likelihood of a successful crop in 2024 might make those issues worse. According to the organization, robusta futures on the London exchange have increased in five of the last six months. A 16-year high was reached in April due to the fear of shortages.
source: reuters.com
Its data shows that Robusta wholesale prices grew by about 17% from March to an average of $1.94 per pound (or around $0.88 per kilogram) in April. The main producer of the variety in the world, Vietnam, is "facing supply difficulties" as a result of subpar crops this season and previous.
According to Bloomberg, a hot wave that is dwindling irrigation water resources and decreasing the likelihood of a successful crop in 2024 might make those issues worse. According to the organization, robusta futures on the London exchange have increased in five of the last six months. A 16-year high was reached in April due to the fear of shortages.
source: reuters.com
