Domestic coffee prices are about to reach 100,000 VND/kg; World gold prices are increasing sharply

Domestic coffee prices are about to reach 100,000 VND/kg

At 5:24 a.m. on March 29, 2024, domestic coffee prices increased to 1,700 VND/kg, the highest ever. Currently, the average purchase price in the Central Highlands provinces is 99,700 VND/kg, the highest purchase price in Dak Nong province is 99,800 VND/kg.

Specifically, coffee was purchased in Gia Lai and Kon Tum provinces at the price of 99,600 VND/kg; In Dak Nong province, coffee was purchased at the highest price of 99,800 VND/kg.

Green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, are purchased at 99,300 VND/kg.

In Cu M'gar district, Dak Lak province, coffee is purchased at about 99,500 VND/kg, while in Ea H'leo district, Buon Ho town, it is purchased at the same price of 99,600 VND/kg.

Today, domestic coffee prices peaked at VND99,800/kg, an all-time high, about to reach VND100,000/kg, a price experts predict will be reached this weekend.

The Vietnam Coffee and Cocoa Association (Vicofa) forecasts that Vietnam's coffee exports in the 2023/2024 crop year will decrease by 20% compared to the previous crop year, to 1.336 million tons due to dry weather reducing coffee productivity and output. Low coffee supplies in major exporting countries have also contributed significantly to the sharp price increases in recent months due to El Nino.

Gold price skyrockets again, surpassing historical peak of 2,200 USD/ounce

Today, SJC gold edged up slightly, bringing the gold price above 81 million VND/tael, while world gold prices skyrocketed, surpassing the historical peak of over 2,200 USD/ounce.

At the time of survey at 5:00 a.m. on March 29, 2024, the gold price on the trading floors of some companies was as follows:

Today's 9999 gold price is listed by DOJI at 79.00 million VND/tael for buying and 81.00 million VND/tael for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 79.00 - 80.95 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 79.00 - 81.15 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,232.10 USD/ounce, a difference of 34.36 USD/ounce compared to yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 65.918 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 13.082 million VND/tael higher than the international gold price.

USD continues to climb

Today, the VND/USD exchange rate adjusted up slightly, at the same time the world USD continued to climb while waiting for important US data.

The central VND/USD exchange rate announced by the State Bank is adjusted to 24,003 VND/USD, up 5 VND compared to the trading session on March 28.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,153 VND/USD. The US Dollar exchange rate has also been brought to the buying and selling range by the State Bank of Vietnam from 23,400 to 25,153 VND/USD.

The USD exchange rate at banks and domestic foreign exchange rates this morning recorded a series of upward adjustments at banks. Specifically, Vietcombank has a buying price of 24,580 and a selling price of 24,950, maintaining an increase of 20 VND compared to the trading session on March 28. The current USD buying and selling prices are in the range of 23,400 - 25,300 VND/USD.

In the world market, the Dollar Index (DXY), measuring the USD against 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stopped at 104.53 points - up 0.18% compared to the transaction on March 28.