Rice and pork prices continue to increase; Coffee drops by 900 VND/kg

Rice prices continue to increase

Rice priceToday (July 2) in the Mekong Delta region, prices fluctuated upward for raw rice, finished products and by-products, while rice prices continued to move sideways.

In An Giang, rice prices continued to move sideways today. Accordingly, Nang Nhen rice (dried) is priced at 13,000 VND/kg. Long An sticky rice (dried) remains stable at 7,700 - 7,900 VND/kg. AG sticky rice (fresh) is priced at 6,200 VND/kg. An Giang dry sticky rice fluctuates around 7,400 - 7,600 VND/kg.

Dai Thom 8 rice is stable at 6,800 - 7,000 VND/kg; Japanese rice is around 7,800 - 8,000 VND/kg; OM 18 is 6,800 VND/kg; Nang Hoa 9 rice is around 6,600 - 6,800 VND/kg.

Fresh IR 50404 rice is purchased by traders at 6,300 - 6,500 VND/kg. OM 5451 rice remains at 6,300 - 6,500 VND/kg.

During the past week, rice prices decreased at the beginning of the week and increased again in the middle of the week. Overall, rice prices were quite stable, without much fluctuation and continued to be purchased by traders at high prices at the field.

Currently, people in the Mekong Delta provinces are continuing to harvest the 2023 summer-autumn rice crop, but not much. Therefore, the rice supply to warehouses is slow and is being offered by factories at high prices.

For raw rice and finished products today, there continues to be a slight increase of 50-100 VND/kg.

Specifically, the price of IR 504 HT raw rice increased by VND 10,000/kg. IR 504 finished rice increased by VND 100 and was purchased by traders at VND 11,400/kg.

Last week, Vietnam’s rice export prices decreased at the beginning of the week but were bought by importers at increased prices by the end of the week. With the current price, Vietnamese rice is still in the top group compared to exporters.

The reason why rice prices continue to remain high is because Vietnam's rice exports continue to be favorable due to increased demand in many markets, and rice prices have also "benefited" and always remained high, according to traders.

Pig price increased to 64,000 VND/kg

Pig priceToday (July 2) moved sideways across the board and recorded a peak of 64,000 VND/kg. The average price of live pigs in the regions also exceeded 60,000 VND/kg.

In the Northern region, the price of live pigs today is flat across the board and fluctuates between 62,000 - 64,000 VND/kg. Accordingly, the highest price in the region of 64,000 VND/kg was recorded in Thai Binh, Phu Tho, and Vinh Phuc.

Lower by one price, traders in Bac Giang, Yen Bai, Thai Nguyen, and Hanoi provinces all stood at 63,000 VND/kg. Other localities in the region recorded a live hog price of 62,000 VND/kg.

Following the same market trend as the Northern region, in the Central Highlands region, the price of live pigs today is quiet and generally ranges from 58,000 - 63,000 VND/kg. Accordingly, the lowest price in the region of 58,000 VND/kg was recorded in Dak Lak.

On the other hand, the highest price in the region of 63,000 VND/kg was recorded in Thanh Hoa. Other localities in the region recorded live pig prices today (July 2) around 59,000 - 62,000 VND/kg.

With the current selling price, both businesses and farmers are making a profit.

Along with the increase in live pig prices, the price of hogs has also increased and is currently at 82,000 VND/kg.

Coffee price drops to 900 VND/kg

Coffee pricesDomestic coffee prices today (July 2) in the Central Highlands provinces decreased from 800 VND to 900 VND/kg, the highest coffee price was at 64,700 VND/kg.

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 the price of 64,100 - 64,200 VND/kg, down 900 VND/kg.

Coffee prices in Gia Lai and Kon Tum provinces stood at VND64,400/kg, down VND800/kg.

Coffee prices in Dak Lak province today decreased by 900 VND/kg, in Cu M'gar district, coffee prices are currently at 64,400 VND/kg. In Ea H'leo district, Buon Ho town, coffee is purchased at the same price of 64,500 VND/kg.

In Dak Nong province, coffee was purchased at the highest price of 64,700 VND/kg, down 800 VND/kg.

 

World coffee prices on the two exchanges continued to plummet as the USDX (index measuring the value of the US dollar) skyrocketed.

At the end of the most recent trading session, Robusta coffee prices on the London floor fell for the fifth consecutive session. September spot futures fell another $79 to $2,491/ton and November futures fell another $83 to $2,391/ton, both very sharp declines. Trading volume was quite high above average.

Similarly, Arabica coffee prices on the New York floor also fell. September spot futures fell another 2.60 cents to 159 cents/lb and December futures fell another 2.15 cents to 158.10 cents/lb, both quite sharp declines. Trading volume was quite high above average.

According to experts, world coffee prices are in a negative state due to a lack of real customers, and cash flow is shifting to delivery dates in more distant months because of significant price differences.

Although Vietnam's coffee exports in the first 15 days of June improved to 68,744 tons, higher than the 66,847 tons of the previous year, Vietnam's cumulative coffee exports in the first 5.5 months were at 934,863 tons, still 1.37% lower than the 947,849 tons shipped in the same period in 2022.