Commodity market: Coffee and crude oil prices increase together

Closing the last trading week, the industrial raw material market witnessed overwhelming buying power for two commodities: coffee, and crude oil prices also increased due to geopolitical tensions.

MXV-Index for the week of September 8-12. Source: MXV

At the end of the week, the price of Arabica coffee recorded an increase of more than 6.2% compared to the previous week, reaching 8,749 USD/ton, while the price of Robusta coffee increased by nearly 6.8% to 4,601 USD/ton.

According to MXV, supply concerns have been a factor supporting coffee prices throughout the past time.

Besides, weather factors also contributed to supporting the price increase during the week.

Industrial raw material commodity market week from September 8 to 14.

Source: MXV

In the domestic market, in the first half of the week, the price of green coffee beans purchased in the Central Highlands continuously decreased, reaching the lowest price range in a month, with the purchase price fluctuating from 113,000 to 115,000 VND/kg. However, since mid-week, coffee prices have recovered following the upward trend of the world coffee market.

As of September 12, the average coffee price in the region fluctuated around 118,000 - 120,000 VND/kg, a slight increase of 2,500 - 4,000 VND/kg compared to before. The market continued to remain gloomy, with all parties waiting for the 2025-2026 harvest season.

According to MXV, the energy group also witnessed strong demand with 4/5 commodities increasing in price simultaneously. Of which, Brent oil price increased by 2.27% during the past week, climbing to 66.99 USD/barrel; while WTI oil price also recorded a weekly increase of about 1.33%, stopping at 62.69 USD/barrel.

Currently, the market is still focusing on new developments surrounding the Russia-Ukraine conflict, in the context of investors' confidence in the possibility of the two sides soon reaching a peace agreement increasingly decreasing.

In addition, tensions in the Middle East also increased after Israel's surprise attack on Hamas forces in the capital Doha, Qatar. During the trading session on September 9, there was a time when oil prices jumped 2% due to concerns about regional instability.

However, the situation later calmed down, halting the upward momentum for the rest of the trading session.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-gia-ca-phe-va-dau-tho-cung-tang-716080.html