According to a quick note of PV, along with the sharp increase of coffee prices, pepper prices also increased slightly today in some raw material areas.
Pepper price today increased slightly by VND 500 / kg in some raw material areas. Artwork: I.T
Specifically, pepper prices today in Dak Lak, Dak Nong at 38,500 VND / kg, up 500 VND / kg compared to yesterday. In Gia Lai, pepper prices were lower, reaching 37,500 VND / kg.
In Binh Phuoc province, pepper prices were unchanged today, at VND 39,000 / kg, while in Dong Nai at VND 37,500 / kg.
Coffee prices today in Ba Ria – Vung Tau remain unchanged compared to yesterday and are at the highest level in the market, reaching 40,000 VND / kg.
Coffee prices today suddenly increased “crisis” to 700 VND / kg
As noted by PV Dan Viet, the Central Highlands coffee market today received good news when it increased for the second day in a row with a very high increase, up to 700 VND / kg following the strong increase of world coffee prices.
Specifically, today's coffee price in the capital of Dak Lak was VND 32,400 / kg, in Gia Lai and Dak Nong at 32,300 VND / kg; green coffee beans in the province of Lam Dong also increased by 700 VND / kg, reaching 32,200 VND / kg.
The strong momentum of world coffee prices has created momentum to boost the price of exported coffee in Ho Chi Minh City port to 1,411 USD / ton, up to 40 USD / ton.
In yesterday trading session, domestic raw coffee price also increased by VND 200 / kg compared to the previous session. So after only 2 sessions, the price of coffee in the Central Highlands has increased by nearly 1 million VND / ton.
On the futures exchange, the price of robusta coffee in London yesterday closed up to 36 USD / ton, at 1,346 USD / ton, equivalent to 2.75% for the delivery term in July 7/2020.
Arabica coffee prices in New York also on the rise to 6.6 cents / lb – the highest number since the beginning of the year. Accordingly, closing the delivery term in May 5/2020, coffee prices on this floor at 122.20 cents / lb.
Yesterday (3/3), the US Federal Reserve (FED) unexpectedly cut USD interest rates with unprecedented depth from 2008 to the present: a decrease of 0.5%. FED explained that they cut interest rates to maintain the momentum of economic growth in the US when the corona virus disease (Covid-19) is constantly spreading.
A few hours earlier, the Central Bank of Australia also lowered the interest rate by 0.25 percentage points due to concerns that the spread of the corona virus will have a negative impact on the economy.
After the Fed's decision to lower interest rates, US stocks and the global gold market all surged sharply, dragging the world agricultural markets, including coffee, to trade more aggressively.
According to danviet.vn
