Closing the trading session yesterday, November 18, the green color returned to the world raw material market. The overwhelming buying force supported the MXV-Index to increase more than 1% to 2,179 points.
Going against the general trend of the whole market, the industrial materials group recorded mixed movements. In particular, Arabica coffee prices decreased by nearly 0.5% to 6,221 USD/ton, Robusta coffee prices also recorded an adjustment down by nearly 1% to 4,735 USD/ton. According to MXV, the EU recently agreed to delay the application of the Anti-Deforestation Regulations (EUDR) for another year. This decision may limit the recent coffee buying and hoarding activities of European countries, along with positive extreme weather developments in Brazil that have put pressure on coffee prices during the session. Yesterday.
On the domestic market, recorded this morning, November 19, Vietnamese coffee prices are still closely following developments with international coffee prices. Accordingly, the price of green coffee in the Central Highlands and Southern provinces decreased slightly by 200 VND/kg compared to yesterday. Specifically, domestic coffee prices continue to be purchased around 112,600 – 113,200 VND/kg.
Ms. Nguyen Thi Thu Huong – Executive Director of Huu Nghi International Investment Co., Ltd. said: “After skyrocketing at the beginning of last week, coffee prices had a downward adjustment in the first trading session of the week. Inter-market cash flows have temporarily subsided, the weather in Brazil has improved and the EU has officially extended the implementation of the EUDR for another year. This causes coffee demand in the last months of the year, especially In the main importing countries in Europe, it is unlikely to be as exciting as in the past. However, in my opinion, right now is a sensitive time with many financial and fundamental factors affecting investors. We need to be patient and observe more market developments.”
