London coffee price at seven-year low
THE price of London-traded September contacts for robusta coffee closed at a seven-year low of US$867/t on Thursday (29 June).
The Financial Times reports that Vietnam, the worlds largest robusta coffee producer, plans to raise production to a record 600,000t in the 2000/1 season.
The move was announced despite pledges by Hanoi to join other producers in holding back exports in a bid to boost coffee prices, reports the paper.
- Financial Times, page 40