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Saturday, June 15, 2024

For a longer heyday

By Nguyen Quang Binh

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The breakneck fall in coffee prices has caught many coffee stock holders off guard. Many are wondering whether coffee prices could find their way back to their peak or whether their heyday has ended. However, the key issue is how to make those high prices sustainable. In just a couple of days to May 10, 2024, the global and domestic coffee markets went through an unimaginable shock. The future price of Robusta coffee plunged from its peak of US$4,338 to US$3,261 per ton, and now hovers around the US$3,440/ton mark. The price of Arabica coffee beans plummeted from US$5,410 to US$4,237 per ton and is now steady at US$4,435. Meanwhile, the domestic Robusta price fell from its peak of VND135 million to less than VND100 million per ton. The unprecedented price fall Within 10 days of transactions beginning April 26, the first day of the “Sell in May and go away” adage month, the Robusta price made a U-turn. The market sentiment shifted over concerns that the U.S. Federal Reserve (Fed) would not lower interest rates in June 2024 as earlier expected. Persistent inflation and a stable labor market in the United States pushed expectations for a rate cut to […]
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