LONDON: Robusta coffee futures on ICE rose on Monday as supplies are tightened by disruptions to the flow of supplies from Vietnam because of conflict in the Red Sea.

New York-based raw sugar, cocoa and arabica coffee markets were closed on Monday for a public holiday.

COFFEE

March robusta coffee was up 0.75% at $2,961 a metric ton by 1321 GMT, edging up towards last week’s peak of $2,995, which was the highest price for at least 16 years.

Dealers said there continued to be some disruption to the flow of supplies to Europe from top robusta producer Vietnam caused by attacks on shipping in the Red Sea.

“Robusta imports from key regions into Europe are becoming costly and slower amid Red Sea tensions,” Rabobank said in a note on Monday.