SMALL INDUSTRY NEWS
WORLD'S GOODS HIGHLIGHTS DAY 16.02
The U.S. Department of Agriculture (USDA) recently announced it will invest approximately $1 billion in several pilot projects to support the country's growers with the aim of conserving nature and remediating climate change factors. environmental pollution like today. Accordingly, USDA introduces a new concept of “climate-smart goods”, i.e. agricultural goods produced using farming methods that reduce greenhouse gas and carbon emissions. .
GOODS MARKET NEWS TODAY
Coffee prices skyrocketed to the highest level in more than 10 years as stocks dwindled rapidly
The price of Arabica coffee on the New York Mercantile Exchange has risen to the highest level in more than 10 years due to many reasons, leading to global coffee stocks falling to a 22-year low. as reported by Bloomberg.
Coffee prices have doubled over the past year due to prolonged dry weather in Brazil, and global supply chains are frequently disrupted by epidemics, making freight costs always low. High. This makes not only the price of coffee but also the prices of other agricultural commodities increase very high. This situation lasted, causing the price of Arabica coffee to rise to nearly $6,000/ton, the highest level since September 2011.
In addition to Arabica coffee, the price of Robusta coffee also increased sharply in the early days of February when Vietnam - the leading Robusta coffee producer took a break for the Lunar New Year, while Brazil was restricting sales. Meanwhile, the expectation that Europe and the US will reopen will support global coffee demand to rebound this year. It is forecast that the price of Robusta coffee in the near future will be stable due to the additional supply when Vietnam returns to the market after the extended Lunar New Year holiday, while the weather report of the main coffee growing regions in Southern Brazil has had a lot of rain to support this year's crop.
According to statistics from the Ministry of Industry and Trade, at the port area of Ho Chi Minh City, export Robusta coffee grade 2, 5% black broken rate traded at the price of 2,288 USD/ton, the difference +55 USD/ton, increased by 42 USD/ton (equivalent to 1.9% increase) compared to the end of January.