Robusta coffee climbed to a fresh four-year high and arabica also rose

Robusta coffee futures on ICE rose to a four-year high on Tuesday, Robusta coffee climbed to a fresh four-year high and arabica rose on concerns that heat and dryness will further threaten crops in Brazil.

Coffee futures have advanced this year as drought and then frost hit crops in top coffee producer Brazil, while supply worries in Vietnam and Colombia have also supported prices. Dry weather and high temperatures will likely worsen crop stress in Brazil’s arabica regions this week.

 Dealers said the spread of COVID-19 in Vietnam and measures to slow its spread were prompting concerns there may be disruptions to shipments with the harvest due to begin around November, while there also continued to be a shortage of shipping containers.