Domestic coffee prices drop sharply; Thai durian competes with Vietnamese goods
(Baonghean.vn) - Domestic coffee prices have dropped sharply; Rice prices are stable, by-product prices have increased; Customers are waiting for the new crop, pepper prices are highest at 70,000 VND/kg; Thai durian competes with Vietnamese goods... are the market news today.
Domestic coffee prices fell sharply
Coffee prices today, June 30, 2023, in the domestic market decreased by 800 - 900 VND/kg, fluctuating at 65,600 - 66,000 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 65,500 - 65,600 VND/kg, down 800 VND/kg.
Coffee prices in Gia Lai and Kon Tum provinces stood at VND65,700/kg, down VND800/kg.
Today's coffee price in Dak Lak province decreased by 900 VND/kg, in Cu M'gar district, the coffee price is currently at 65,700 VND/kg. In Ea H'leo district, Buon Ho town, the price is 65,800 VND/kg.
World coffee prices on the two exchanges continued to plummet as the USD Index suddenly soared.
On the sidelines, on July 5, the first container of Vietnamese specialty coffee will be exported to the Japanese market.
Japan is a major market for Vietnamese coffee. The General Department of Import and Export (Ministry of Industry and Trade) cited statistics from the General Department of Customs, saying that in the first 5 months of 2023, Vietnam's coffee exports to the Japanese market reached 48,680 tons, worth 128.57 million USD, down 7.4% in volume and 2.7% in value compared to the same period last year; the average export price of Vietnam's coffee to Japan was 2,641 USD/ton, up 5.1% over the same period last year.
Rice prices stable, by-product prices increase
Rice prices today, June 30, in the domestic market continued to improve as rice prices tended to increase while paddy prices remained stable; however, prices of some by-products such as broken rice and bran increased slightly.
Recorded at An Giang warehouse, rice prices today continued to move sideways. Specifically, fresh IR 50404 rice was purchased by traders at 6,300 - 6,500 VND/kg. OM 5451 rice remained at 6,300 - 6,500 VND/kg. Dai Thom 8 was stable at 6,800 - 7,000 VND/kg; Nhat rice was around 7,800 - 8,000 VND/kg; OM 18 was priced at 6,800 VND/kg; Nang Hoa 9 rice was around 6,600 - 6,800 VND/kg.
Long An sticky rice (dried) continues to remain stable at 7,700 - 7,900 VND/kg. Dried sticky rice fluctuates around 7,400 - 7,600 VND/kg. Nang Nhen rice (dried) is priced at 13,000 VND/kg.
For raw rice and finished products, the trend is still slightly increasing. Currently, the price of raw rice IR 504 HT fluctuates around 9,950-9,970 VND/kg. Finished rice IR 504 costs 11,250-11,300 VND/kg.
Regarding by-products, IR 504 rice bran is currently offered at 9,600 - 9,650 VND/kg, an increase of 50 VND/kg, and dry bran fluctuates around 7,500 - 7,600 VND/kg, an increase of 100 VND/kg.
In the export market, export rice prices remained stable after a slight increase yesterday. Accordingly, the price of 5% broken rice from Vietnam is being offered at 508 USD/ton; 25% broken rice is at 488 USD/ton and Jasmine rice is stable at 578 USD/ton.
There is currently fierce competition among rice exporters, forcing Vietnamese businesses to have methodical strategies to maintain and retain market share.
At the same time, shift the export market structure towards sustainability, effectively exploit the rice import demand of key and traditional markets; focus on developing markets with demand for importing high-quality, high-value rice and deeply processed rice products.
Customers are waiting for the new crop, the highest pepper price is 70,000 VND/kg
Pepper prices today, June 30, 2023, in domestic markets continued to decrease by 500-1,000 VND compared to yesterday. Currently, the highest pepper price is at 70,000 VND/kg.
Thus, after two consecutive days of downward adjustment, pepper prices are now quite low, with the lowest price in the Central Highlands. Specifically, the price of pepper in Chu Se (Gia Lai) is only 67,000 VND/kg. In Dak Lak and Dak Nong, pepper prices today also decreased to 68,000 VND/kg (down 500 VND/kg).
Similarly, pepper prices in the Southeast region also decreased by 1,000 VND/kg. In Binh Phuoc province, traders are currently purchasing pepper at 69,000 VND/kg. In Dong Nai, it decreased to 68,500 VND and in Ba Ria Vung Tau, it decreased to 70,000 VND/kg.
Explaining the drop in pepper prices, pepper traders said that it was due to the fact that traditional and key markets for Vietnamese pepper such as the EU and China continued to be quiet as the economic crisis was still ongoing. Currently, buyers are waiting for the new crop from Indonesia in July.
In the world market, according to updates from the International Pepper Association (IPC), at the end of the most recent trading session, pepper prices are currently stable after two sessions of slight increases.
According to the Vietnam Pepper and Spices Association (VPSA), Vietnam's 2023 pepper harvest has basically ended with an estimated output of nearly 200,000 tons, up 9.3% compared to 2022.
Since the beginning of the year, pepper prices have tended to increase, but in recent days, prices have dropped sharply and many localities have slipped below 70,000 VND/kg. With the current price, although people still have profits, it is not attractive enough for them to replant pepper in the context of having to compete with other crops that are more competitive in terms of profit.
DurianThailand competes with Vietnamese goods
Thailand and Vietnam are the largest suppliers of durian to the Chinese market. Thai people are constantly taking new steps to increase their competitiveness with Vietnamese goods, maintaining their market share in the market of 1.4 billion people.
Thai durian has been popular in China for many years. Thanks to that, Thai farmers earn several billion USD/year. However, from mid-September 2022, Vietnam started to officially export durian to China. Thailand has another competitor in this market.
Since then, orders for Vietnamese durian exported to China have exploded, with supply sometimes not meeting demand, and revenue increasing dramatically. In 2022, durian brought in 421 million USD, an increase of nearly 137% compared to 2021. This is also the year durian set a historical record for export turnover.
The influx of Vietnamese durians into the Chinese market has made Thai people uneasy. In March, when the durian harvest officially began, Thailand decided to raise the quality standards for exported durians. Accordingly, the minimum dry matter content must reach 35%, instead of 32% like last year.
According to plant protection experts, the more dry matter in the fruit, the less water. This makes the durian firmer and tastier. This is a move by Thailand to retain Chinese consumers. The country also opened a railway route between Thailand - Laos - China to bring durian to China in the fastest and most cost-effective way.
The General Secretary of the Vietnam Fruit and Vegetable Association assessed that exporting durian to China helped Thailand earn about 3.5 billion USD last year. However, Thailand is also under pressure when Vietnamese durian penetrates the Chinese market.
Regarding Vietnamese durian, not only Thailand, our country also has to compete with other rivals such as Malaysia and the Philippines. Therefore, in addition to meeting the food safety issues of the Chinese market, there also needs to be standards and regulations on the quality of exported durian like Thailand is doing. At the same time, we need to focus on the issue of varieties, product brands, etc.
