Bac Giang earns over 6,800 billion VND from lychee; World gold price suddenly drops

Bac Giang earns more than 6,800 billion VND from lychee crop in 2023

Despite many difficulties, Bac Giang's lychee crop in 2023 has ended successfully. Total revenue from lychee and ancillary services is the highest ever.

According to the Department of Industry and Trade of Bac Giang province, in 2023, lychees of Bac Giang province will be consumed favorably in both domestic and export markets. The total lychee consumption output of the whole province is estimated to reach over 201,600 tons, an increase of over 21,600 tons compared to the plan.

Of which, the province's lychee export output is estimated at nearly 111,200 tons, accounting for over 55.1% of the total consumption output. Domestic consumption output is estimated at nearly 90,500 tons, accounting for nearly 44.9%.

The revenue value from lychee and ancillary services is estimated at over VND 6,876 billion (the highest ever); of which, revenue from lychee is estimated at over VND 4,658 billion (an increase of more than VND 247 billion compared to 2022); revenue from ancillary services is estimated at VND 2,218 billion.

Lychee prices are stable, with the average price for the whole crop estimated at 23,100 VND/kg, about 2,000 VND/kg higher than the average price for the whole crop in 2022.

Bac Giang lychees are mainly exported to the Chinese market (accounting for over 98% of total export output). The remaining lychees are exported to other markets such as: the United States, Japan, Korea, Australia, EU, Thailand, UAE, Qatar and some countries in the Middle East and Southeast Asia...

This year is also the first year that Bac Giang lychee is exported by rail through Kep international transit station. On average, 300 tons of lychee can be transported from Kep station to Bang Tuong station (China) every day.

In addition to popular products such as dried lychee, lychee juice, lychee vinegar or lychee honey... this year, some cooperatives in Luc Ngan district have processed many products such as: lychee-flavored bread and cakes; lychee wine; lychee tea...

World gold suddenly dropped to 1,969.8 USD/oz

On the morning of July 21 (Vietnam time), the gold price traded on Kitco floor was listed at 1,969.8 USD/oz, down 10.1 USD/oz compared to the previous trading session. Meanwhile, domestic SJC gold remained at 67.2 million VND/tael.

Converting world gold price according to foreign exchange rate at Vietcombank: 1 USD = 23,810 VND, world gold price is equivalent to 56.50 million VND/tael, 10.7 million VND/tael lower than SJC gold selling price at the same time.

At the end of the trading session on July 20, Saigon Jewelry Company listed the gold buying price at VND66.60 million/tael; selling price at VND67.20 million/tael, keeping the same price for both buying and selling compared to the opening of the trading session on the same day. The difference between the buying and selling price of SJC gold remained at VND600,000/tael.

At the same time, DOJI Group listed the buying and selling price of gold at 66.55 - 67.25 million VND/tael. Compared to the opening of the trading session on July 20, gold at DOJI increased by 50,000 VND/tael in both buying and selling directions, so the difference between the buying price and selling price is still 700,000 VND/tael.

At the end of the afternoon of July 20 (Vietnam time), the gold price traded on Kitco floor was listed at 1,979.9 USD/oz, an increase of 3.6 USD/oz compared to the early morning of the same day.

Converting world gold price according to foreign exchange rate at Vietcombank: 1 USD = 23,810 VND, world gold price is equivalent to 56.77 million VND/tael, 10.43 million VND/tael lower than SJC gold selling price at the end of July 20.

Domestic coffee prices increased by 1,300 VND/kg

Domestic coffee prices on July 21, 2023, in the Central Highlands provinces increased by VND 1,300/kg, the highest at VND 66,900/kg.

Specifically, the price of green coffee beans (green coffee beans, fresh coffee beans) in Lam Dong province, in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at a price of 66,000 - 66,100 VND/kg.

Coffee prices in Gia Lai and Kon Tum provinces stood at 66,500 VND/kg.

Coffee price today in Dak Lak province today, in Cu M'gar district, coffee price is currently at 66,600 VND/kg. In Ea H'leo district, Buon Ho town, it is purchased at the same price of 66,700 VND/kg.

According to data from the General Department of Vietnam Customs, coffee exports in the first half of July only reached 31,607 tons (about 526,783 bags), bringing coffee exports in the first 6.5 months of the year to a total of 1,037,866 tons, down 3.64% over the same period last year.

According to data from the International Coffee Organization, Vietnam is the second largest coffee exporting country in the world (February 2021 - January 2022), just behind Brazil. Vietnam is the leader in coffee productivity, reaching 2.4 tons/ha.

In the 2021-2022 crop year, Vietnam will mainly export Robusta coffee with 1.5 million tons, worth 2.97 billion USD; Arabica coffee beans will only export 60,000 tons, worth 260 million USD; decaffeinated coffee beans will export 26,000 tons, worth 76.9 million USD.

Export rice prices continue to increase by 5 USD/ton

Rice prices today, July 21, 2023, continued to increase by 50 - 300 VND/kg. In the export market, Vietnamese rice prices also increased by 5 USD/ton.

Accordingly, at An Giang warehouse, summer-autumn rice prices are increasing by 50 - 300 VND/kg. Specifically, IR504 rice is being purchased by traders at 6,600 - 6,800 VND/kg, an increase of 50 VND/kg; Dai Thom 8 rice increased by 100 VND/kg to 6,900 - 7,100 VND/kg; Long An sticky rice (fresh) increased by 100 VND/kg to 6,300 - 6,600 VND/kg; An Giang sticky rice (fresh) is 6,000 - 6,300 VND/kg, an increase of 300 VND/kg.

For the remaining rice varieties, prices remained stable. Specifically; OM 5451 rice fluctuated at 6,400 - 6,600 VND/kg; OM 18 rice was priced at 6,600 - 6,800 VND/kg; Nang Hoa 9 was priced at 6,600 - 6,800 VND/kg; Japanese rice was also stable at 7,800 - 8,000 VND/kg; Nang Nhen rice (dry) was at 13,000 VND/kg.

Regarding rice, the price of raw rice and finished products has also been adjusted up. Accordingly, IR 504 raw rice is at 10,250 - 10,300 VND/kg, an increase of 50 VND/kg.

According to traders, there is a large amount of rice coming in, and the prices of all types of rice are high. Demand and purchasing power are good. The price of rice in the market fluctuates little. There is a lot of demand for rice.

In the export market, export rice prices continued to increase. Specifically, 5% broken rice was traded at 533 USD/ton, up 5 USD/ton; 25% broken rice was at 513 USD/ton, up 5 USD/ton.

Thus, since the beginning of the week, Vietnam's export rice prices have increased by 20 USD/ton for 3 sessions. Following the same trend, Thai and Pakistani rice prices have also increased by 2-6 USD/ton.

Rice exports are showing positive signs of increasing both in volume and value. Vietnam's rice exports are forecast to continue to be favorable from now until the end of the year as rice production in many Asian countries is at risk of decreasing due to the impact of El Nino, which will boost demand as well as rice prices in the international market. Many countries in the world are actively purchasing rice to ensure food security.