Robusta Coffee Gains on Tight Vietnam Supplies, Increasing Freight Rates

(Bloomberg) -- Robusta coffee gained in London, climbing back to the eight-year highs reached at the beginning of the week, on tight supplies from Vietnam, the world's biggest producer of the beans, and soaring freight rates.

Vietnam has finished reaping its harvest, which typically runs from October to April. The country's stockpiles have almost run out, according to RedTower Ltd., in Aberdeen, Scotland, pushing domestic prices up to record levels. The price of a kilogram of robusta beans has climbed 18 percent since the beginning of the year to 25,450 dong ($1.60) in the province of Daklak, according to Daklak Trade and Tourism Center data.


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