Cocoa prices increased 128% in the first quarter, coffee prices continued to increase sharply in Vietnam

Published 2024년 4월 1일

Tridge summary

Cocoa and coffee prices have seen significant increases, with cocoa reaching a historic high of 9,766 USD/ton, a 128% increase, due to supply shortages in major producing countries like Ivory Coast. Coffee prices also rose, with Robusta up by 3.60% and Arabica by 2.16%, mainly due to a shortage in Vietnam and low inventories in consumer markets. The Vietnam Commodity Exchange noted a 6% rise in its commodity price index in the first quarter, led by cocoa. Concerns over supply are exacerbated by illegal gold mining in cocoa-growing regions in Africa. In Vietnam, coffee prices have hit record highs, with the potential to reach 100,000 VND/kg.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Ending last week (March 25-29), cocoa prices created a new historic peak at 9,766 USD/ton, after increasing by 9.25%. Robusta coffee prices increased by 3.60% and Arabica coffee prices increased by 2.16%. The commodity price index increased by 6% in the first quarter Data from the Vietnam Commodity Exchange (MXV) shows that, closing the last trading week of March (March 25-29), purchasing power was completely overwhelming for 3 out of 4 groups of raw materials. are being traded worldwide at MXV, including Industry, Energy and Agricultural Products; Supporting the MXV-Index continued to increase by 1.08% to 2,237 points. The average transaction value of the entire Department reached nearly 5,700 billion VND per day, 15% lower than the previous week. Thus, at the end of the first quarter of this year, this commodity index increased by nearly 6% compared to the first day of the year, showing an upward trend in prices of many important products. In particular, cocoa continued to be ...

Source: Baosoctrang