Vietnam’s vast hoard of coffee beans is shrinking, a phenomenon that’s set to push rising global prices even higher. Know more:
Vietnam’s vast hoard of coffee beans is shrinking, a phenomenon that’s set to push rising global prices even higher.
Robusta, used by instant coffee makers including Nestle SA or as a blend in espressos, has been making a comeback. The variety, normally cheaper than arabica, is in strong demand as people look for alternatives to mitigate the impact of rising inflation. “We are worried” about a shortage through early November, said Phan Hung Anh, chief executive of Quang Minh Coffee Trading JSC in the southern province of Binh Duong. Local growers are probably holding only around 2 percent of their annual output, compared with about 13 percent a year earlier, he said.
The slump in Vietnamese inventories pushed domestic robusta prices in Dak Lak province, which accounts for about one-third of the country’s harvest, to a record high of 49,100 dong a kilogram last week.
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