Vietnam: Coffee and soybeans have a volatile and choppy trading week

Published 2024년 12월 9일

Tridge summary

The MXV-Index experienced a 0.17% increase, reaching 2,188 points, driven by a rise in industrial raw materials and agricultural products. Arabica coffee prices hit a 47-year high, surpassing 7,200 USD/ton, while Robusta coffee prices saw a decline. The market's attention was divided between profit-taking and the USD/BRL exchange rate, but supply concerns, especially due to below-average rainfall in Brazil's coffee-growing regions, soon took center stage. Vietnam's coffee export figures and production forecasts, along with Colombia's increased coffee output estimate for 2024, influenced market dynamics. In the domestic market, coffee prices have doubled compared to the previous year, and soybean prices showed a second week of recovery with positive demand and favorable weather expectations in major South American producing countries.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Closing, the MXV-Index increased by 0.17% to 2,188 points. Notably, the industrial raw materials group led the market's increase with 7/9 items increasing in price. Of which, the price of Arabica coffee surpassed the 7,200 USD/ton mark, setting a 47-year high. In a similar vein, the agricultural products group also witnessed many items increase in price. World coffee prices fluctuated Closing the last trading week, green dominated the price list of industrial raw materials. The focus of the market was still on coffee prices. The prices of the two coffee items went through a volatile week with the first two sessions of the week plunging but quickly recovering in the last three sessions of the week. At the end of the week, the price of Arabica coffee increased by 3.84%, surpassing the 7,200 USD/ton mark and setting a new historical peak in 47 years. Meanwhile, Robusta coffee prices fell 4.73% from the historical peak set last week. At the beginning of the week, the prices of two ...
Source: Baochinhphu

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