The Strategist

Robusta coffee prices hit 45-year high

05/07/2024 - 10:23

The International Coffee Organization said that the price of robusta coffee has increased to a 45-year high since 1979. The main producer of Robusta in the world, Vietnam, had low yields.
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.