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Wednesday, June 19, 2024

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investor sentiment

Optimistic prospects for agri-business

Producers of agro-products, especially those traded on futures markets in the UK and the U.S., have reason to celebrate. Prices of Vietnam’s key export agro-products, such as rice, coffee, and even black pepper, are on the rise. Many farmers are hopeful that this late-year price surge bodes well for the year 2024. Even though black pepper has yet to be officially traded as a commercial commodity, prices in black pepper cultivation areas have soared to VND85,000 per kilogram. This represents an increase of over VND15,000 compared to recent times, and it is happening nearly two months ahead of the main harvest. The consistently high prices of Vietnam’s exported rice have brought cheer to farmers, even though the return on this commodity in futures exchanges is still slightly over two percentage points lower than the previous year. Domestic and international robusta coffee prices have leapt since the start of the harvest season. This serves as a partial reward for the hard work put in by coffee farmers throughout the year. Domestic coffee prices have briefly exceeded VND70,000 per kilogram, a significant increase from VND41,000-42,000 per kilogram seen just before Christmas in 2022. Many farmers expressed optimism that the price upswing of […]
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