The world agricultural market is under strong selling pressure

Robusta and Arabica coffee prices have experienced a decrease after four consecutive sessions of increase, reaching historical highs in April. This drop is attributed to technical pressure and a surge in exports from major producing countries like Brazil and Colombia. Additionally, cocoa prices have also fallen due to concerns of declining demand in Europe and Asia due to high prices. Furthermore, soybean prices have weakened due to increased exports from Brazil, and wheat prices have seen a decline due to improved weather conditions in Russia, leading to an increase in production forecasts.

Source: baotintuc.vn After 4 hot rising sessions, Robusta coffee prices reversed and plummeted. After rising for 4 consecutive sessions and exceeding the historical peak set in April, in yesterday's trading session, coffee prices Robusta reversed and decreased by nearly 3.4%. At the same time, Arabica coffee prices fluctuated strongly but ended the session still down 2.56% compared to the reference. Besides technical pressure, the boom in exports from major producing countries has put pressure on the market. According to data from the Brazilian Government, in June 2024, this country exported 203,278 tons of coffee beans, an increase of 47% over the same period last year. Along with that, Colombia's coffee output in the first 6 months of the year increased 16% to 5.82 million bags, while exports increased 15% over the same period last year, to 5.74 million bags. In addition, positive coffee harvest progress in Brazil also shows the prospect of adding new crop supplies to the ...