Vietnam, the world's second-largest coffee producer, faces a 10-16% drop in output due to its worst drought in nearly a decade, causing global coffee prices to rise.

Vietnam, the world's second-largest coffee producer, is experiencing its worst drought in nearly a decade, causing concerns of increased espresso prices globally. The Mercantile Exchange of Vietnam forecasts a 10-16% drop in output due to extreme heat in the Central Highlands. Despite some farmers implementing countermeasures, wholesale prices in Vietnam and London-traded robusta futures have reached record highs, and global coffee prices for consumers are expected to rise.

June 24, 2024
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