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.
Malaysia-China trade hits nearly 100 bln USD
Malaysia-China economic ties have continued to strengthen, with bilateral trade reaching nearly 98 billion USD between January and November, matching the 2023 total trade volume.