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Global Heatwave Drives Up Coffee and Commodity Prices

Global Heatwave Drives Up Coffee and Commodity Prices

Heat waves scorched Southeast Asia, pushing coffee prices up 20%. Vietnam, a top robusta producer, faces drought. London robusta futures hit $4,394 a tonne. Arabica also rose.

Rubber prices spiked due to heat damage. Osaka Exchange futures reached 360.90 yen per kilogram. Natural gas surged as air conditioning demand soared. Henry Hub futures jumped 48%.

Global temperatures hit records. May was the hottest on record. La Nina could bring more heat, keeping energy prices high.

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