Coffee prices benefit

Closing the trading session, coffee prices continued to benefit from the context of declining supply in leading supplying countries including Vietnam and Brazil.

According to the Vietnam Commodity Exchange (MXV), in yesterday's trading session (January 7th), the prices of most metal commodities rose simultaneously. Notably, platinum prices surged 3.6%, reaching their highest level in the past 7 weeks. In addition, in the industrial raw materials market, the prices of two commodities, coffee, also recovered positively amidst lingering concerns about supply shortages in major producing countries such as Brazil and Vietnam. At closing, buying pressure prevailed, pushing the MXV-Index up 0.11% to 2,229 points.

Thị trường hàng hóa 8/1: Giá cà phê được hưởng lợi

MXV-Index

Precious metal prices are rising.

At the close of yesterday's trading session, green dominated the metal price charts. Precious metals maintained their strong recovery, led by platinum with a 3.6% increase to $976.7 per ounce. Buyers also held the advantage in the silver market, but the price closed with only a slight increase of 0.34% to $30.7 per ounce.

Metal price list

Platinum prices have risen to a seven-week high on renewed optimism about the economic outlook in China, the world's largest platinum importer, which has recently rolled out a series of large-scale economic stimulus measures, including monetary and fiscal policies.

This is expected to boost demand for platinum in the automotive and clean energy sectors. In addition, platinum prices are also supported against the risk of supply shortages. According to the U.S. Department of Energy, future platinum demand is expected to exceed market supply. Therefore, a market deficit is likely in 2025, especially as mining and production from major suppliers such as South Africa and Russia decline.

Platinum prices were further supported yesterday by concerns about supply disruptions in South Africa, the world's largest platinum producer. According to Bloomberg, the state-owned electricity company Eskom is facing significant operational difficulties due to unpaid bills. As of November this year, the company still owes 95.4 billion rand (US$5.1 billion). Experts believe this could cause Eskom to delay power supply in the near future, thereby disrupting platinum production in the country.

Silver prices broke above $30 an ounce, hitting a near three-week high following a rally in most metals. Gains were capped by a stronger dollar after solid jobs data that could prompt the Fed to slow the pace of interest rate cuts. Data showed U.S. payrolls unexpectedly rose in November, although hiring slowed. Jobs rose 259,000 to 8.098 million on the last day of November, according to official data.

Prices for both Arabica and Robusta coffee have increased.

According to MXV, the industrial raw material group continued to experience a relatively mixed session. However, the prices of most items witnessed quite modest changes, increasing or decreasing by no more than 1%.

Coffee prices continued to benefit from the decline in supply in leading supplying countries including Vietnam and Brazil. At the end of the session, Arabica and Robusta coffee prices both increased by over 0.6%, closing at 7,065 USD/ton and 5,019 USD/ton, respectively.

Industrial raw material price list

Specifically, according to preliminary estimates from the General Statistics Office of Vietnam (GSO), Vietnam exported over 125,900 tons of coffee in December last year, down 39.3% compared to the same period in 2023. For the whole year of 2024, Vietnam exported 1.34 million tons of coffee, down 17.2% compared to 2023.

Furthermore, in Brazil, government data shows that the country exported 200,000 tons of coffee in December, a decrease of 17.1% compared to the same period in 2023. Moreover, industry experts have warned that coffee exports from Brazil are being disrupted due to logistical difficulties at export ports. Specifically, according to a survey by the Brazilian Coffee Exporters Council (Cecafé) of 27 affiliated companies, accounting for 75% of total exports, continuous delays and changes in the size of export vessels, combined with frequent cargo turnover, resulted in 1.615 million 60kg bags of coffee being held at ports and not yet exported by November 2024.

Conversely, cocoa futures for March 2025 reversed course and fell by more than 1% after a relatively volatile session. Prices continued to be supported by a sharp decline in supply from major producing countries. Furthermore, data also indicated that global cocoa inventories continued to fall. Specifically, yesterday, cocoa stocks monitored by the Intercontinental Exchange (ICE) held at US ports fell to a 20-year low of 1.345 million bags.

Prices of some other goods