Vietnamese coffee exports rebounded strongly in February 2023

Raw Common Coffee Bean

Vietnam

Published Mar 17, 2023

Tridge summary

However, cumulative exports in the first 2 months of the year still recorded a decline with a decrease of 7.8% compared to the same period in 2022 when the total export volume was only 342,352 tons. The February export recovery in Vietnam is expected to boost the current supply in the market, especially as other countries such as Indonesia and Brazil are also preparing to supply the new crop year. On the domestic market, recorded this morning, the general trend of world prices, the price of green coffee beans in the Central Highlands and Southern provinces increased sharply by 500 VND/kg. Accordingly, domestic coffee was purchased at 46,800-47,200 VND/kg, significantly erasing the decrease from the beginning of the week.

Original content

World oil prices cut off the chain of 3 consecutive sessions of sharp decline After 3 sessions of losing a total of nearly 10 USD/barrel, oil price has recovered from the low of 15 months. Ending the session on March 16, WTI oil price increased 1.09% to 68.35 USD/barrel, and Brent oil increased by 1.37% to 74.7 USD/barrel after OPEC + countries had signals. reassurance after the focus on the risks in the financial and banking industry that had shaken the market before. Market sentiment gradually stabilized as the risks surrounding Credit Suisse Bank were partially eased, as Swiss Financial Conduct Authority FINMA and the Swiss Central Bank pledged to provide liquidity to the bank. this item. Credit Suisse will borrow up to 50 billion Swiss francs from the Central Bank and it offers to buy back up to 3 billion francs in premium debt securities. That caused oil price to open the session with an increase compared to the reference level. However, the decline continued in the afternoon ...

Source: Baochinhphu