Pricey Coffee Is Here to Stay as Hoarding, Heat Hit Vietnam Supply.

Coffee prices in Vietnam, the world's largest producer of robusta beans, are expected to continue rising due to hoarding and poor weather conditions. Farmers and middlemen are holding onto beans, causing a supply shortage and record defaults on contracts. Climate change and dry conditions are exacerbating the situation, with a global deficit expected for the fourth consecutive year. The price increase has not yet reached retail levels, but the CEO of Tata Consumer Products predicts that robusta prices will remain volatile. The shortage in Vietnam has driven benchmark futures in London up by 50% this year. [Extracted from the article]

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