Lower coffee output in the world’s fourth largest grower, which mainly produces robusta beans, could lead to more gains in prices, which have climbed over 40% in 2023 and hit a record high in June.
The country’s weather agency BMKG said the weather phenomenon, which typically brings prolonged hot and dry weather, is already affecting more than two-thirds of the nation, including Java and parts of Sumatra, two key coffee producing areas.
In 2023/24, Indonesia’s coffee output is forecast at 9.7 million 60-kg bags, down from 11.85 million bags a year ago and lowest since 2011/12, according to the US Department of Agriculture data.
Thailand, Singapore fortify economic, defence cooperation
Leaders of Thailand and Singapore have agreed to deepen cooperation in various areas such as such as economy, tourism, defence and food security.