Robusta Coffee Jumps to Record as El Niño Worsens Supply Fears

Vietnam, the world's largest robusta grower, probably collected its smallest harvest in four years.

Mumbi Gitau

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Robusta coffee surged to the highest level since at least 2008, making it more expensive for buyers around the world to get a cheap brew.

Futures in London jumped to as much as $2,790 a ton, the highest since the contract started 15 years ago. Beans for September delivery traded at a premium of as high as $91 a ton to the November contract on ICE Futures Europe, the highest on record.