The premium robusta coffee for delivery in January commands over the March futures climbed to a record, signaling tightening supplies as shipments fall from leading producer Vietnam and stockpiles dwindle. Cocoa dropped.
Robusta coffee fell in London to the lowest since January as bearish technical indicators added to speculation supplies are ample in Vietnam, the world’s biggest grower of the variety, and Indonesia. Sugar rose.
Robusta coffee climbed to the highest in almost three weeks in London on speculation prices that fell in the last quarter by the most since 2011 slipped too far, amid declining stockpiles in Europe and high premiums in growing nations. Cocoa slipped.
The coffee crop in Vietnam, the world’s largest producer of the robusta variety, will be 9.5 percent higher than a previous estimate in the season started last month, according to researcher CoffeeNetwork.