Coffee prices rose sharply on Wednesday. Arabica coffee has reached its highest level in 13 years

December arabica coffee (KCZ24) is up +13.10 (+4.68%) today and January's Robusta ICE coffee (RMF25) is up +138 (+2.96%). Robusta coffee prices are supported by reduced robusta production. The Vietnamese Ministry of Agriculture said on 26 March that Vietnam's coffee production in the 2023/24 season fell by -20% to 1.472 MMT, the smallest harvest in four years, due to the drought. Robusta coffee is also supported by fears that heavy rains in Vietnam could flood coffee fields, which could delay its coffee harvest. Vietnam, the world's largest producer of Robusta, is in the early stages of its coffee harvest