Vietnam poised to lead robusta coffee production
VIETNAM could become the worlds leading producer of robusta coffee in the 1997-98 season because of the serious drought threatening this years Indonesian coffee harvest.
Production in Indonesias “coffee triangle” might be reduced by as much as 50% if there is insufficient rainfall by the end of this month. It is the southern hemisphere country worst hit by the developing El Niño weather system.
The shortfall may be offset by better than average harvests in Vietnam, Brazil and parts of Africa, meaning global consumer prices might not be affected.
Fears about the Indonesian crop provoked continued strong interest in coffee futures on the London International Financial Futures Exchange.