Coffee and oil prices increased simultaneously.

MXV-Index reached 2,323 points, the highest level since February. Source: MXV

The MXV-Index rose more than 0.7% to 2,323 points – the highest level since February, reflecting investors' optimistic sentiment amid concerns about coffee supply shortages and positive signals from the crude oil market.

Green dominates the industrial raw materials market. Source: MXV

According to the Vietnam Commodity Exchange (MXV), the industrial raw material market witnessed overwhelming buying power with 7/9 commodities increasing in price simultaneously. Robusta coffee prices jumped 3.3% to 4,585 USD/ton, while Arabica inched up 0.7% to 8,163 USD/ton.

MXV said that prolonged heavy rains in the Central Highlands are disrupting the harvest progress, causing many areas of ripe coffee to fall early and increasing the risk of mold, threatening the quality of the new crop.

Meanwhile, in Brazil – the world's largest coffee exporter, unusually dry weather has analysts worried about a decline in output in the 2026-2027 crop year.

The international market was also shaken by the US imposing a 50% tariff on coffee imported from Brazil, causing Arabica inventories on the ICE Exchange to fall to an 18-month low.

Domestically, the coffee market is trading moderately, with the price of green coffee beans in the Central Highlands on October 29 increasing to 114,000-116,000 VND/kg, with the December delivery contract fluctuating around 114,000 VND/kg.

The energy market is "bright green". Source: MXV

In the energy sector, oil prices continued to recover thanks to a sharp drop in inventories. According to data from the US Energy Information Administration (EIA), commercial crude oil reserves in the US fell by nearly 7 million barrels in the week ending October 24, much higher than forecast.

Brent oil price increased 0.81% to 64.92 USD/barrel, WTI oil increased 0.55% to 60.48 USD/barrel.

MXV assessed that the US Federal Reserve's (FED) move to cut interest rates by 0.25 percentage points to 3.75–4% could continue to support global energy demand in the short term.

Over the past week, world crude oil prices have recorded an increase of about 3-4%; thereby, creating momentum for an increase of about 5-6% for some notable products such as gasoline or diesel oil currently traded on the SGX (Singapore).

This development may be one of the important factors considered by the Ministry of Industry and Trade and the Ministry of Finance in the domestic retail gasoline price adjustment session taking place this afternoon.

Source: https://hanoimoi.vn/gia-ca-phe-va-dau-dong-loat-tang-721489.html