According to the Mercantile Exchange Of VietNam (MXV), which closed on June 13, the world raw material market is differentiated.

Red and green colors intertwine in the price list of energy and industrial raw materials. Agricultural products increased in price while metals dropped sharply. The MXV-Index weakened slightly after three consecutive increasing sessions, with a decrease of 0.06% to 2,313 points.

Cocoa prices continue to head towards the peak amid concerns about supply shortages

Closing the session on June 13, September contract cocoa prices continued to increase sharply for the third consecutive session, with an increase of 2.61% to 10,110 USD/ton. This is the highest price in the past 1 and a half months. Concerns about cocoa supply shortages are heightened when leading producers show signs of stopping export activities and pre-selling for the new crop.

According to Reuters, in June, an order to stop exporting and selling cocoa was issued in Ivory Coast, the world's largest cocoa exporting country. The country has temporarily stopped selling cocoa beans in the 2024-2025 crop year at 940,000 tons, down about 35% compared to the same period last season. The export suspension will last until after June for multinational corporations. Currently, trading activities only take place for domestic purposes. Exporters said they are waiting for clearer information about expected output to be able to decide the amount of goods to sell and export.

Previously, Ghana, the world's second largest cocoa producer, said that its cocoa exporters were looking to delay the delivery of 350,000 tons of beans for the 2024-2025 season due to poor harvests. Sources predict that Ghana's cocoa sales may be only 100,000 tons after the above information. This number is too low compared to the average of 750,000 - 850,000 tons in previous seasons.

In addition, traders have also become more pessimistic about the prospects for new crop supply from the two countries that account for over 60% of global cocoa output. Accordingly, cocoa output in Ivory Coast and Ghana could decrease by up to 30% compared to the previous crop, a high risk of supply scarcity in the short term. In particular, Ghana's crop size may be less than 500,000 tons, lower than the cocoa export volume of previous seasons.

The tough message from the FED caused metal prices to plummet

At the end of the trading day on June 13, red dominated the metal price list with 9 out of 10 items simultaneously decreasing in price. As for precious metals, with overwhelming selling pressure right from the beginning of the session, silver and platinum prices dropped sharply due to increasing macroeconomic pressure. Closing the day, silver price decreased 3.97% to 29.06 USD/ounce, the lowest level in nearly a month. Platinum prices also weakened to a 6-week low with a decrease of 1.69% to 954.6 USD/ounce.

Since the US Federal Reserve (FED) announced its interest rate decision at dawn yesterday, the precious metals market has been under significant pressure. According to the FED's statement, the FED is expected to cut interest rates only once this year, much less than the March forecast of cutting interest rates three times. This raises concerns that the FED may continue to maintain the current high interest rates and may delay the loosening of monetary policy until December, much later than previous forecasts of December. 7 or September.

This tough move from the FED has helped strengthen the USD. The Dollar Index ended yesterday's session up 0.53% to 105.2 points. Rising investment costs combined with interest rate risks have caused silver and platinum prices to plummet.

In other developments, increasing macroeconomic pressure is also a detrimental factor on the prices of basic metal products. Copper or nickel prices, important input materials in the production of electric vehicle batteries, have encountered strong selling pressure due to concerns about slowing consumption in the green energy sector. Closing the day, COMEX copper price decreased 1.87% to 4.48 USD/pound. Nickel prices decreased 2.3% to 17,645 USD/ton, the lowest level since early April.

In its latest Electric Vehicle Outlook report, BloombergNEF warned that a wave of rapid global growth in battery production could cause supply to exceed demand for the rest of this decade. According to the report, by the end of 2025, the global battery industry will be able to produce five times more batteries than the world needs.

Prices of some other goods

Agricultural product price list

Energy Price List

Source: MXV