Crude oil and coffee heat up the world commodity market

Energy stocks fell across the board as all five key commodities were in the red, putting downward pressure on the entire market. At the end of the week (October 5), the MXV-Index fell more than 0.2% to 2,279 points.

In contrast to the decline in the energy group, the coffee market was bustling when Arabica and Robusta prices increased by 3.4% and 7.8% respectively due to concerns about supply shortage.

Coffee prices recovered strongly last week. Source: MXV

Specifically, Robusta coffee price has reached 4,527 USD/ton, while Arabica coffee price has reached 8,614 USD/ton.

According to MXV, tariff pressure along with supply concerns in Brazil due to weather continued to be the main factors supporting coffee prices in the past trading week.

Meanwhile, in Vietnam, the situation of coffee farms in the Central Highlands remains stable. Domestic coffee prices on October 4 fluctuated around 115,000 - 116,000 VND/kg, slightly down from last week. FOB Robusta coffee export orders this week were priced from 4,080 to 6,410 USD/ton, with an export volume of more than 12,000 tons, up 69% over the same period last year.

Oil prices fell sharply last week due to oversupply pressure. Source: MXV

In the energy market, oil prices last week were under pressure mainly from the prospect of global oversupply.

Along with that, commercial crude oil inventories in the US, according to data released by the US Energy Information Administration (EIA), also increased by nearly 1.8 million barrels.

Source: https://hanoimoi.vn/dau-tho-va-ca-phe-lam-nong-thi-truong-hang-hoa-the-gioi-718560.html