Vietnam: Coffee prices drop dramatically, world agricultural product prices weaken simultaneously

Published 2024년 12월 3일

Tridge summary

The MXV-Index has dropped by 1% to 2,162 points due to strong selling pressure, with two coffee items experiencing significant price drops. Robusta coffee prices have reached a record low. The dollar's strength, following President Trump's tariff threat, and concerns about Brazilian farmers selling coffee for profit have contributed to the price fall. Conversely, concerns over coffee supply due to rainfall deficits in Brazil's primary growing region persist. Additionally, soybean and soybean meal prices have weakened due to positive supply prospects from leading South American producers.

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Original content

Strong selling pressure pulled the MXV-Index down 1% to 2,162 points. Notably, the industrial raw material group had 7/9 items falling in price, of which the price of two coffee items dropped shockingly by 7% for Arabica and 10.6% for Robusta. In a similar trend, the prices of most agricultural products also weakened. Robusta coffee prices fell to a record low Closing the first trading session of the week, red dominated the price list of the industrial raw material group. In particular, two coffee items shocked the market when prices simultaneously plummeted. Specifically, the price of Arabica coffee lost 6.92% to 6,526 USD/ton, the lowest level in a week; the price of Robusta coffee decreased for the second consecutive session, plummeting 10.63% compared to the reference price to 4,834 USD/ton. The Dollar Index jumped nearly 1% yesterday after Mr. Trump tweeted that he would impose a 100% tariff on BRICS countries if they tried to create a new currency to replace the USD. ...

Source: Baochinhphu