Coffee hoarding set to squeeze Vietnamese exports even further

HANOI: Coffee exports from Vietnam are set to tighten as some growers hoard their beans and Red Sea risks mount following a smaller crop from the world’s biggest producer of the robusta variety.

Some farmers are waiting for even higher domestic prices before selling, and are instead relying on income from fruit sales including durians to cover costs in the meantime, according to Trinh Duc Minh, head of the Buon Ma Thuot Coffee Association in Dak Lak province, a key grower. The local price of robusta - used for instant drinks and espressos - has already rallied to a record.