According to the Vietnam Commodity Exchange (MXV), on the trading day of January 14, it is noteworthy that the industrial raw material group was under the strongest pressure when the prices of 6/9 commodities decreased, in which the price of Robusta coffee continued to weaken for the third consecutive session.
Commodity market in industrial raw materials industry
For the industrial raw material group, at the end of yesterday's trading day, the price list of the industrial raw material group attracted attention when it was flooded with red. In the coffee market, the price of Arabica turned down more than 1% after two consecutive price increases before. The price of Robusta coffee decreased by 0.8% to 4,863 USD/ton, down to the lowest level since the first week of December 2024. The prices of the two coffee products continued to be under pressure as the market reacted to positive news about supply.
Recently, according to the announcement of the General Department of Vietnam Customs, in December 2024, Vietnam's total coffee export volume reached 127,655 tons, a sharp increase of 102.6%; the total export value also increased by more than 95%, equivalent to over 686.5 million USD. This information has contributed to putting pressure on Robusta coffee prices since the end of last week.
In addition, according to Embrapa Coffee, in the year from October 2023 to September 2024, the total world coffee output reached 178 million bags, equivalent to an increase of 5.82% over the same period last year. In addition, output in Colombia, the world's second largest producer of Arabica coffee - reached 13.9 million 60-kg bags in 2024, equivalent to an increase of 23% compared to 2023 and 300,000 bags higher than the previous forecast. In terms of exports, in 2024, Colombia exported 12.3 million 60-kg bags of coffee, an increase of 16% over the same period last year. In December alone, FNC said that Colombia's coffee output reached 1.79 million 60-kg bags, an increase of 47% over the same period last year; Exports reached 1.28 million 60 kg bags, up 20% over the same period last year.
In another development, November sugar futures lost more than 3% of their value to $403.9/ton, marking the sharpest decline in a month. More positive supply signals were the main cause of pressure on prices of this commodity.
Commodity markets in the energy market sector
In the energy market , according to MXV, the energy market closed yesterday's session with 3/5 items in the group recording price decreases, ending the previous increase streak. Crude oil prices turned down, ending the streak of 3 consecutive increases. Specifically, WTI crude oil prices decreased by 1.67% to 77.5 USD/barrel, while Brent crude oil prices decreased by 1.35% to below 80 USD/barrel.
Profit-taking by investors put pressure on oil prices yesterday, after news of tightening sanctions on Russia's oil and gas industry last weekend raised concerns about global supply disruptions and pushed prices into overbought territory.
In addition to profit-taking pressure, the US Energy Information Administration’s (EIA) gloomy Short-Term Energy Outlook (STEO) for January also contributed to the weakness in oil prices. Accordingly, the EIA forecasts that oil prices will be under pressure over the next two years, as global production growth outpaces overall demand. EIA analysts forecast that the crude oil market will become surplus this year as oil demand in the world’s two largest economies, the US and China, slows significantly in 2024.
In addition, the positive outlook for security stability in the Middle East also put pressure on oil prices. According to Qatar, the ceasefire agreement between Hamas and Israel is very close to being signed after a long period of negotiations. This helps reduce the risk of disruption of crude oil supplies from the region.
A lower-than-expected drop in US oil inventories last week also put downward pressure on oil prices yesterday.
Source: https://baodaknong.vn/thi-truong-hang-hoa-15-1-2025-luc-ban-quay-lai-chiem-uu-the-240338.html
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