Vietnam coffee harvest at 4-year low

Global coffee bean prices are soaring, and there's no end in sight. In major grower Vietnam, the agricultural ministry says this season's output will fall 20 percent from the previous year, sending it to a four-year low.

Vietnam is the world's largest grower of Robusta beans, accounting for about 40 percent of production. The beans are used mainly in instant coffee.

Nguyen Huu Long is a major supplier based in the central highland province of Gia Lai.
He has contracts with over 200 regional growers to produce more than 10,000 tons of Robusta beans annually.

But this year's high temperatures and a punishing drought have prevented coffee trees from blooming, and many have died. Long worries that amid the continuing harsh weather, prices will continue to rise and stay high for a long time.

Across the world, Robusta futures in London hit a new high in April. But the record might not last long on the news from Vietnam.