Fruit and vegetable exports earn nearly 1 billion USD in just one month; USD rises again

World price drops sharply, SJC gold price increases slightly to 67.05 million VND

Gold price today (June 23), domestic gold price increased slightly, with JSC gold price currently at 67.0 million VND/tael (selling). Meanwhile, world gold price continued to decrease sharply, down to 1913 USD.

At the time of survey at 5:00 a.m. on June 23, on the trading floor of Saigon Jewelry Company SJC, SJC gold was 66.45 million VND/tael for buying and 67.05 million VND/tael for selling.

At Phu Quy Jewelry Company, at the time of survey, the listed price of SJC gold was at 66.45 - 67.05 million VND/tael (buy - sell).

DOJI listed the price of 9999 gold at 66.40 million VND/tael for buying and 67.00 million VND/tael for selling.

Vietinbank Gold price is listed at 66.45 million VND/tael for buying and 67.07 million VND/tael for selling.

The price of SJC gold at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 66.46 - 67.03 million VND/tael (buy - sell). The price of 24K Rong Thang Long gold of Bao Tin Minh Chau is listed at 55.81 - 56.66 million VND/tael in two directions.

USD exchange rate today (June 23): USD increases again

USD exchange rate today (June 23), USD exchange rate in the world and in the country increased slightly.

The State Bank of Vietnam announced the central exchange rate with the US Dollar at 23,732 VND.

World market foreign exchange rates: Yesterday's USD exchange rate developments showed that the Dollar Index (DXY), measuring the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) stopped at 102.39 points with an increase of 0.31% at the close of the session on June 22.

The US dollar returned to gains in recent trading after Fed Chairman Jerome Powell said interest rate hikes may be needed to curb inflation.

In testimony before the US Congress on June 22, Powell said that another 25 basis points increase was a reasonable estimate of the central bank's path if the current economic situation continued. Powell also emphasized that the Fed is not yet finished with its monetary policy tightening cycle.

In other news, the Bank of England (BoE) raised interest rates more than expected. The BoE announced a 50 basis point increase, bringing the rate to 5%. Investors had expected the BoE's bank rate to peak at 6% by the end of the year, but a Reuters poll showed economists were expecting a peak of 5%.

Domestic coffee price highest at 66,200 VND/kg

Coffee prices today (June 23) in the domestic market decreased by 700 VND/kg compared to yesterday, currently fluctuating from 65,500 - 66,200 VND/kg, still maintaining a high price.

Specifically, the price of green coffee beans (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 65,400 - 65,500 VND/kg.

Coffee prices in Gia Lai and Kon Tum provinces stood at 65,700 VND/kg.

Today's coffee price in Dak Lak province in Cu M'gar district is currently at 65,900 VND/kg. In Ea H'leo district, Buon Ho town, the price is 66,000 VND/kg.

As for the world coffee prices on both exchanges today, they both decreased because the price has entered the overbought zone, so it is necessary to adjust and balance the speculative position. Besides, there is also the selling pressure of the new crop that is currently being harvested in full swing from Brazil, the world's largest coffee producer and exporter.

At the end of the latest trading session, Robusta coffee prices on the London floor continued to decline. The July spot futures fell another $48 to $2,7759/ton and the September futures fell another $44 to $2,726/ton, both quite sharp declines. Trading volume was very high above average.

Similarly, Arabica coffee prices on the New York floor also decreased. September futures fell another 3.85 cents to 172.25 cents/lb and December futures fell another 3.45 cents to 171.20 cents/lb. Trading volume remained very high above average.

Coffee prices are forecast to continue to rise this week. However, with the trading volume slowing down last week, many experts believe that the price increase will not be dramatic.

In the context of low economic growth and high inflation, consumers around the world are tightening their spending and choosing coffee with suitable prices. This has caused a sharp increase in demand for blending Robusta coffee - which has a low price - with Arabica coffee. Roasters around the world are increasing purchases of Robusta coffee to meet this demand. The high price of Robusta coffee is expected to help improve the income of coffee farmers in Vietnam.

Unprecedented in history, just one month of exporting vegetables and fruits earned nearly 1 billion USD

Preliminary statistics released by the Vietnam Fruit and Vegetable Association after extracting data from Vietnam Customs show that in just 20 days of June 2023, Vietnam's fruit and vegetable exports reached 723.3 million USD. From the beginning of the year to June 20, exports of this group of products helped Vietnam earn 2.75 billion USD, an increase of 63.6% over the same period in the first 6 months of 2022.

Mr. Dang Phuc Nguyen - General Secretary of the Vietnam Fruit and Vegetable Association said that the above figure was only calculated as of June 20. If the last 10 days of June are added together, fruit and vegetable exports could reach nearly 1 billion USD this month, an estimated increase of nearly 282% compared to June 2022.

According to Mr. Nguyen, within just 1 month, fruit and vegetable exports earned 1 billion USD, an unprecedented record in the more than 30-year history of this industry's export activities.

Up to this point, the agricultural sector has only had seafood, wood and wood products groups record export turnover of over 1 billion USD in one month.

Among the top 5 largest fruit and vegetable export markets of Vietnam in the first 5 months of this year, China took the lead with nearly 63.5% of the total export value. Export turnover to this market reached nearly 1.3 billion USD, up 78% over the same period last year.

Next are the US, South Korea, Japan, and the Netherlands. Of which, fruit and vegetable exports to the US market recorded a 12% decrease compared to the same period last year; the South Korean, Japanese, and Dutch markets had increases of 12%, 0.5%, and 70%, respectively.

In the Project for Developing Key Fruit Trees to 2025 and 2030, the Ministry of Agriculture and Rural Development set a target of fruit and vegetable export turnover reaching 5 billion USD by 2025. If the current export rate is maintained, the figure of 5 billion USD will be achieved this year, 2 years earlier than the set target.