homemarket Newscommodities NewsCommodity Corner | Coffee can get cheaper, rubber and soyabean prices to rise
Commodity Corner | Coffee can get cheaper, rubber and soyabean prices to rise
Coffee prices trading at one-and-a-half year low because weather in Brazil has improved and expectations are that the Brazil crop could be 16 percent higher this year at around 65 million bags and that has weighed on the prices.
International coffee prices are trading at a one-and-a-half-year low because the weather in Brazil has improved and expectations are that the Brazil crop could be 16 percent higher this year at around at 65 million bags.
However, within the edible oil sector, soybean prices trading at a 7-month high. as there is strong demand from China, which is the world's largest soybean importer. Soybean prices gained 12 percent in 2022 and 2023 has opened on a firm note as well.
A smart rebound is expected in rubber prices too. International rates are at a 5-month high, again coursey China opening up. China accounts for 40 percent of global consumption and with demand on the rise, there is support.
The Chinese auto demand should lend credit to this as sales there are expected to rise nearly 5 percent this year. Meanwhile, the International Rubber Consortium has said that the output is expected to increase this year, but not to a large extent from major producers like Thailand, Malaysia, and Indonesia.
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