Robusta coffee sets 4-year high, arabica also up

Robusta coffee futures on ICE climbed to a four-year high on Tuesday while arabica coffee also rose, boosted by supply concerns following recent frosts in top grower Brazil.

* November robusta coffee LRCc2 settled up $40, or 2%, at $2,066 a tonne, after hitting the highest since September 2017 on Tuesday at $2,070.

* Dealers said the market was supported by a pick-up in demand for robusta beans linked to the recent surge in prices for arabica coffee following frost damage to Brazil’s crop.

* The high current cost of shipping coffee from top robusta producer Vietnam has also added to demand for exchange stocks.

* Meanwhile, robusta supplies are tightening amid shipping congestion and coronavirus lockdowns in top producer Vietnam.

* Indonesia’s Lampung province, a key robusta producing region, exported 6,250.69 tonnes of the bean in August, down 70.5% from the same month last year, data showed.