November 3, 2024 | 01:28 GMT +7
Hotline: 0913.378.918
November 3, 2024 | 01:28 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) Live pig prices on 11/01/2024, have increased by VND 1,000 in some areas. The live pig market across the 3 regions is trading around VND 58,000 - 64,000/kg.
(VAN) Domestic pepper prices on 11/01/2024 sharply dropped by VND 2,000 - 2,500, bringing domestic pepper trading down to the range of VND 141,000 - 142,500/kg.
(VAN) Coffee prices on 11/01/2024 dropped. Currently, domestic coffee prices have fallen by VND 800, reaching the range of VND 107,800 - 108,200/kg.
(VAN) Producers in Africa are grappling with dwindling harvests as a result of erratic weather, pests, and the loss of plantations.
(VAN) Coffee prices on 10/31/2024 have rebounded. Domestic coffee prices specifically rose slightly by VND 200, trading around VND 109,000 - 109,600/kg.
(VAN) Domestic pepper prices on 10/31/2024, remain stable. Domestic pepper prices are trading levels holding around VND 143,000 - 144,500/kg.
(VAN) Rice prices on10/31/2024 fluctuated mixed, changing by VND 50-150/kg. For exports, the price of Vietnamese rice decreased significantly by $ 5-7/ton.
