(Bloomberg) -- Robusta coffee futures rose for a fifth day amid continued challenges in shipping beans from Vietnam, the world’s top exporter.
Robusta for January delivery climbed as much as 1% to $2,162 a ton, before trading at $2,145 as of 12:50 p.m. in London. Robusta has gained more than 47% this year.
Logistics headaches, including a shortage of shipping containers, has curbed exports from Vietnam. The increase in robusta comes after Nestle SA, the owner of instant coffee brand Nescafe, told investors and analysts last week that coffee would get more expensive going into 2022 as input costs rise.
Still, data released on Friday showed that money managers cut bullish robusta bets to a five-week low last week. Arabica coffee declined 0.7% after funds lowered their net long positioning by 359 lots to 51,847 lots, data provided by the CFTC showed on Friday.
Elsewhere cotton gained, while white sugar contracts edged lower.
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