The Vietnam Commodity Exchange (MXV) reported that red dominated the global raw materials price board on December 16th. The industrial raw materials group stood out as it moved against the overall market trend. Notably, cocoa prices continued to surge to historic highs amid supply shortage concerns. At the close, the MXV-Index fell 0.12% to 2,221 points.
Wrapping up the first trading session of the week, the MXV-Index for industrial raw materials increased, going against the overall market trend. The market’s focus was on cocoa as its price returned to the historic peak reached back in April this year.
Specifically, cocoa prices on the Intercontinental Exchange (ICE-US) rose by 4.61%, setting a new record. During the session, prices even approached the 12,000 USD/ton mark. Speculators continued to buy due to concerns about supply shortages.
(Illustrative image: Getty Images)
Cocoa exporters in Côte d’Ivoire estimate that from October 1 to December 8 this year, the volume of cocoa arriving at the ports in the country increased by 34% compared to the same period last year. However, this high increase is due to the low harvest yield and export volume of Côte d’Ivoire in 2023, which saw a sharp decline. Compared to 2022, the volume of cocoa entering the ports is lower by about 12%. The current drought in Côte d’Ivoire is raising concerns about its potential impact on future productivity and output.
Previously, cooperatives reported that most of the main harvest was completed in November, and the shortage is expected to last until February or March. Meanwhile, multinational exporters worry about fulfilling orders due to anticipated farmer supply shortages in the coming months.
Apart from cocoa, coffee prices also witnessed notable increases in the previous session, especially Arabica coffee. Specifically, the price of Arabica coffee for the March 2025 contract rose by 2.47%, and the price of Robusta coffee for the March 2025 contract increased by 0.37% compared to the reference price. Below-average rainfall in Brazil’s main coffee-growing region has rekindled supply concerns in the country amid mixed fundamental news.
According to the Somar Meteorological Agency, rainfall in Minas Gerais, Brazil’s largest Arabica coffee-producing state, reached only 35.2 mm last week, equivalent to 65% of the historical average. Consequently, Brazil’s main coffee-growing region has consistently recorded low rainfall since April, negatively affecting the development of the 2025-2026 coffee crop and resulting in a negative supply outlook.
In the domestic market, coffee prices in the Central Highlands and the Southeast region this morning (December 17) were recorded at 123,500 – 125,200 VND/kg, unchanged from December 16. However, compared to the same period last year, coffee prices have doubled.
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