- Robusta coffee futures hit a 16-year high because of a prolonged drought in Vietnam.
- Vietnam and Brazil, the top robusta producers, face climate issues affecting harvest and supply.
- Vietnamese farmers are also holding onto their beans, hoping to sell them for higher prices.
Lattes may get pricier, as a key indicator for the price of the bean in espresso just hit a record high.
The robusta coffee variety is the basis for both espresso and instant coffee. Vietnam makes the most robusta, followed by Brazil.