Any hopes that a flood of coffee exports from Asia's major growers would take the heat out of a blistering rally that has pushed robusta prices to the highest since the 1970s are fading fast.
Vietnam produces around a third of the worldwide supply of the variety that is mostly used for instant drinks and espresso blends, but a drought followed by weeks of heavy rain has hit the nation's coffee belt hard just before harvesting that starts in October.
The climatic extremes, and a shrinkage in the amount of land devoted to coffee growing, will cut the country's harvest by about 10 per cent to 15 per cent this season, said Mr Trinh Duc Minh, chairman of the Buon Ma Thuot Coffee Association in the biggest coffee-growing province of Dak Lak.
"The drought has caused the trees to produce fewer beans, and the beans are also smaller," he said.
"The rain will hinder farmers from picking the beans and drying their coffee, while also causing transport difficulties."
Bu hikaye The Straits Times dergisinin September 23, 2024 sayısından alınmıştır.
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Bu hikaye The Straits Times dergisinin September 23, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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