Cocoa prices surge

Cocoa futures for March 2025 delivery on the Intercontinental Exchange (ICE-US) surged 13.66% yesterday, recovering all losses from the end of last week.

According to the Vietnam Commodity Exchange (MXV), buying pressure dominated the global raw materials market on Monday, December 30th, pushing the MXV-Index up 1.08% to 2,213 points. Notably, after falling to just over $10,000 per ton in the previous session, cocoa prices surged nearly 14% yesterday and are heading back towards their historical peak. In a similar trend, the energy market also brightened, with all five commodities rising in price, including crude oil, which closed at its highest price in two weeks.

Thị trường hàng hóa hôm nay 31/12: Ca cao bật tăng mạnh

MXV-Index

Cocoa prices surged after a week of declines.

The industrial raw materials market saw mixed results in the first trading session of the week, with cocoa prices recording an impressive increase after a week of sharp declines.

Specifically, the price of cocoa futures for March 2025 on the Intercontinental Exchange (ICE-US) surged 13.66% yesterday, recouping all the losses from the end of last week. The increase was mainly driven by concerns about potential supply shortages in the early months of 2025.

Industrial raw material price list

Cocoa farmers in Ivory Coast are concerned about supply in the early months of 2025 due to the impact of strong dry monsoon winds in key producing regions. Strong Harmattan winds combined with low rainfall are significantly affecting cocoa yields. The most severely affected areas include Central West Daloa, central Yamoussoukro, and central Bongouanou, which receive little to no rain.

Additionally, cocoa exporters in Ivory Coast estimate that between October 1st and December 29th, cocoa arrivals in the country reached 1.05 million tons, a 27.4% increase compared to the same period last year. However, this increase is mainly a result of the sharp decline in cocoa production and exports in the previous 2023-2024 crop year. In fact, compared to previous normal seasons, cocoa arrivals in the current season remain low. Moreover, this week's increase has decreased by 2.7 percentage points compared to the increase up to December 22nd.

In another notable development in the industrial raw materials market, the prices of the two coffee commodities continued to fluctuate, with both supporting and suppressing factors intertwined. In yesterday's trading session, Arabica coffee prices fell by 0.51% and Robusta prices fell by 0.65% compared to the reference price.

In the domestic market, coffee prices in the Central Highlands and Southeast regions this morning (December 31st) were recorded at 120,000 - 120,500 VND/kg, a slight decrease compared to yesterday. However, compared to the same period last year, coffee prices have doubled.

Cold weather in the US pushes oil prices to a two-week high.

According to MXV, the energy market closed yesterday's trading session on a positive note, with all five commodities rising in price. In particular, after a volatile trading session, oil prices closed at their highest level in two weeks.

WTI crude oil prices rose 0.55% to nearly $71 per barrel, while Brent crude oil prices increased 0.3% to $74.4 per barrel. Notably, natural gas prices are fluctuating at their highest levels in a year.

Energy price list

According to forecasts from the US National Weather Service, weather will shift abruptly from mild to colder than normal across the East and Midwest over the next 8-14 days. LSEG also estimates that the number of heating days in the US, a measure of energy demand for heating, will increase to 499 in the next two weeks, up from the previously projected 399. Colder-than-expected weather is expected to boost heating demand and have a bullish impact on natural gas prices, thereby supporting crude oil prices.

In addition, oil prices continued to be supported by US inventory data released last weekend. Specifically, the US Energy Information Administration (EIA) reported that commercial crude oil inventories in the US for the week ending December 20th reached nearly 416.8 million barrels, a sharp decrease of 4.24 million barrels compared to the previous week. The decrease reported by the EIA exceeded analysts' expectations of a 1.9 million barrel decrease, as well as the 3.2 million barrel decrease predicted by the American Petroleum Institute. This indicates that demand for crude oil in the US remains high, contributing to the support of oil prices.

Prices of some other goods