Prices of agricultural products increased slightly; World gold increased to 1978 USD/oz

Export rice price increased sharply by 10 USD/ton

Today's rice price on July 19, 2023 in the domestic market continues to increase. In the export market, rice prices also increased by 10 USD/ton.

Accordingly, at An Giang warehouse, the price of IR 504 summer-autumn rice is being purchased by traders at 6,600 - 6,800 VND/kg, Dai Thom 8 rice fluctuates around 6,900 - 7,100 VND/kg; OM 5451 rice fluctuates at 6,400 - 6,600 VND/kg; OM 18 rice is priced at 6,600 - 6,800 VND/kg; Nang Hoa 9 is priced at 6,600 - 6,800 VND/kg; Nhat rice is also stable at 7,800 - 8,000 VND/kg; Nang Nhen rice (dry) is at 13,000 VND/kg.

According to traders, currently the amount of rice imported is low, the price of all kinds of rice is increasing. Demand and purchasing power are good. The rice market is slow, the price of all kinds of rice is increasing, and the supply is more than before.

In the export market, the export price of rice was adjusted up by 10 USD/ton. Specifically, 5% broken rice was traded at 528 USD/ton; 25% broken rice was at 508 USD/ton.

Thus, Vietnam's rice export price has increased for two consecutive sessions with a strong increase of 15 USD/ton.

According to businesses, Vietnamese rice prices continue to increase amid high demand for Vietnamese rice. Many countries around the world are actively purchasing rice to ensure food security as the El Nino phenomenon is forecast to negatively impact agricultural activities globally. Businesses are closely following information about India considering banning rice exports. India currently accounts for 40% of total global rice exports. If India's rice export ban is approved, world rice prices will increase significantly. At the same time, it will create conditions for other rice exporting countries such as Vietnam and Thailand to increase their market share.

Domestic coffee prices increased slightly

Domestic coffee prices on July 19, 2023, in the Central Highlands provinces, were highest at 65,700 VND/kg.

Specifically, the price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province increased by 100 VND/kg. In districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at a price of 64,900 - 65,000 VND/kg.

Coffee prices in Gia Lai and Kon Tum provinces stood at VND65,400/kg, up VND200/kg compared to the previous day.

Coffee prices in Dak Lak province today increased by 200 VND/kg, in Cu M'gar district, coffee prices are currently at 65,500 VND/kg. In Ea H'leo district, Buon Ho town, coffee is purchased at the same price of 65,600 VND/kg.

Preliminary statistics from the General Department of Vietnam Customs show that Vietnam's coffee exports in June 2023 only reached 140,607 tons, lower than the 150,000 tons initially estimated by some industry experts.

In the first 9 months of the current crop year 2022-2023, our country's coffee exports reached a total of 1.44 million tons (about more than 24 million bags), with a turnover of 3.38 billion USD, an increase of 6.6% in turnover over the same period last crop year.

Pepper priceincreased by 500 VND/kg in the Southeast

Pepper price today, July 19, 2023 in the domestic market increased by 500 VND/kg in the Southeast region, while remaining stable in the Central Highlands region.

Accordingly, pepper prices in the Central Highlands provinces are purchased by traders at around 67,000 - 68,000 VND/kg.

Specifically, Chu Se pepper price (Gia Lai) was purchased by traders at 67,000 VND/kg. Today's Dak Lak pepper price and pepper price in Dak Nong both remained at 68,000 VND/kg.

In the Southeast region, after many sessions of sideways movement, pepper prices today increased again with an increase of 500 VND/kg. Currently, pepper prices in this region are being purchased around the mark of 69,000 - 70,500 VND/kg.

Accordingly, in Dong Nai, pepper price is 69,000 VND/kg, an increase of 500 VND/kg. Pepper price in Binh Phuoc is 69,500 VND/kg, an increase of 500 VND/kg. Pepper price in Ba Ria Vung Tau is still the highest and today is purchased by traders at 70,500 VND/kg, an increase of 500 VND/kg.

Thus, today's pepper price in the domestic market has regained its upward momentum. Currently, pepper price in Ba Ria Vung Tau is still being purchased at the highest price of 70,500 VND/kg.

World gold price increased to 1978 USD/oz

On the world market, in the early morning of July 19 (Vietnam time), the gold price traded on Kitco floor was listed at 1,978 USD/oz, an increase of 16.1 USD/oz compared to the closing price on July 18.

Converting world gold price according to foreign exchange rate at Vietcombank: 1 USD = 23,810 VND, world gold price is equivalent to 56.74 million VND/tael, 9.86 million VND/tael lower than SJC gold selling price at the end of July 18.

Analysts believe that in the coming time, gold prices will continue to be dominated by the Fed's policy decisions. According to Ricardo Evangelista, senior analyst at ActivTrades, with other major central banks yet to complete their rate hike cycles, the US dollar is likely to remain under pressure, which could benefit gold prices. However, US interest rates are unlikely to start falling in the short to medium term, which limits the upside momentum of gold prices.

At the end of the trading session on July 18, Saigon Jewelry Company listed the buying price of gold at 66.6 million VND/tael; the selling price was 67.2 million VND/tael, unchanged in both buying and selling compared to the closing time of the previous trading session. The difference between the buying and selling price of SJC gold remained at 600,000 VND/tael.

At the same time, DOJI Group listed the buying and selling price of gold at 66.5 - 67.2 million VND/tael. Compared to the previous trading session, gold at DOJI remained unchanged in both buying and selling prices, so the difference between the buying price and selling price was still 700,000 VND/tael.