February 5, 2025 | 02:05 GMT +7
Hotline: 0913.378.918
February 5, 2025 | 02:05 GMT +7
Hotline: 0913.378.918
Cocoa prices are changing unpredictably in the market.
After setting a record of USD 10,559 per ton, cocoa prices decreased by more than 7%, mainly due to many profit-taking sell orders on the trading market.
Ivory Coast and Ghana, the two largest cocoa suppliers globally, are experiencing one of the worst cases in history.
Trader Ecom predicts that Ivory Coast's 2023-2024 cocoa output will decrease by 21.5% compared to the previous crop, reaching its lowest level in 8 years. From the beginning of the crop (October 2023) to April 7, 2024, the amount of cocoa arriving at ports in Ivory Coast is about 1.3 million tons, down 27.4% compared to the same period of the previous crop.
Like cocoa, sugar prices fell for eight consecutive days, reaching their lowest level in 15 months. The reason is because global supply is expanding.
In Brazil, the world's largest sugar supplier, the weather has been relatively favorable recently, with heavy rains in key production areas, helping to improve the outlook for sugarcane output this year from 2024-2025.
In addition, France has pegged the sugar beet area in 2024 at 399,000ha, an increase of 4.9% compared to 2023.
Cotton prices decreased by 2.42% to the lowest level in the past three months due to weakening world demand for US cotton. According to the weekly export report ending April 11, the US sold only 81,500 bales of cotton for the 2023-2024 crop, down 4% from the previous week and 10% compared to the prior 4-week average.
Cotton exports this week were only 274,100 bales, down 25% and 23%, respectively, compared to the previous week and the average of the last four weeks.
On the contrary, coffee continued to be the bright spot of the entire raw material market as it continued to extend its upward momentum yesterday. However, the upward momentum has weakened significantly compared to previous sessions.
At closing, Robusta coffee prices increased 0.71% to USD 3,977 per ton, maintaining a 30-year peak and approaching a record of USD 4,000 per ton. Meanwhile, Arabica coffee prices increased by 0.68%, the highest since September 2022.
Translated by Huong Giang
(VAN) Coffee prices on February 4, 2025, surged by VND 1,700 – 1,900/kg domestically, currently ranging from VND 129,700 – 130,700/kg.
(VAN) Pepper prices on February 4, 2025, range from VND 149,000 to VND 150,000/kg, up sharply by VND 1,500 – VND 2,000/kg compared to yesterday.
(VAN) Despite efforts to liberalise rice imports and reduce tariffs, the agriculture department said, the domestic market has been slow to respond, with retail prices surpassing expectations.
(VAN) Pepper prices on February 3, 2025, remain unchanged in both domestic and global markets. Domestic pepper prices are trading at VND 147,000 - 148,200/kg.
(VAN) Live pig prices remain steady, ranging from VND 66,000 - 69,000/kg. In Quang Ninh, efforts are being made to protect livestock during the cold weather.
(VAN) Coffee prices on February 3, 2025, remain unchanged. Domestic coffee is currently trading in the range of VND 127,800 - 129,000/kg.
(VAN) Global arabica coffee prices hit record highs above $3.60 per lb as Brazil, by far the world's largest producer, has few beans left to sell and as worries over its upcoming harvest persist.
