Export rice prices continue to 'dance'; Domestic coffee prices drop by 400 VND/kg

Export rice prices continuously "dance"

Today's rice price on July 27, 2023 in the domestic market continued to increase by 50 - 100 VND/kg. Export rice price increased by 5 USD/ton.

Accordingly, at An Giang warehouse, OM 5451 rice is being purchased by traders at the field at 6,700 - 6,800 VND/kg; OM 18 rice is 6,900 - 7,100 VND/kg; IR504 rice is being purchased by traders at 6,700 - 6,900 VND/kg; Dai Thom 8 rice is at 6,900 - 7,100 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.

Regarding rice, the price of raw rice and finished rice products has been adjusted up by 50 - 100 VND/kg. Accordingly, IR 504 raw rice is at 10,500 - 10,600 VND/kg, up 50 VND/kg. Finished rice is at 12,100 - 12,200 VND/kg, up 100 VND/kg.

According to traders, the amount of rice arriving today is still low, the price of all types of rice has increased slightly. The rice market is bustling, traders are asking to buy a lot, farmers are offering high prices. Especially fragrant rice OM 18/ Dai Thom 8 has high demand, the price has increased.

In the export market, the export price of rice increased by 5 USD/ton. Specifically, 5% broken rice was traded at 548 USD/ton, up 5 USD/ton; 25% broken rice was at 528 USD/ton, up 5 USD/ton.

Along with Vietnamese rice, Thai rice prices have increased sharply by 11-15 USD/ton. Accordingly, the price of 5% broken Thai rice is at 588 USD/ton, an increase of 15 USD/ton.

According to statistics, from the beginning of the year to July 15, the average value of each ton of exported rice was more than 530 USD/ton, an increase of more than 40 USD/ton compared to the same period in 2022. Vietnam's 3 largest rice export markets at the beginning of the year in Asia include: Philippines, China and Indonesia, with the results respectively (updated by market in the first 6 months of the year): 1,698,593 tons, 857.7 million USD; 677,387 tons, 390.6 million USD: 492,801 tons, 244 million USD. Export activities to the 3 key markets all had positive growth compared to the same period in 2022.

Domestic coffee prices decreased by 400 VND/kg

Domestic coffee prices today, July 27, 2023, in the Central Highlands provinces decreased by 400 VND/kg, currently fluctuating at 66,400 - 67,100 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 a price of 66,300 - 66,400 VND/kg.

Coffee prices in Gia Lai and Kon Tum provinces stood at VND66,800/kg, down VND400/kg.

Today's coffee price in Dak Lak province today in Cu M'gar district, the coffee price is currently at 66,800 VND/kg. Meanwhile, in Ea H'leo district, Buon Ho town, the price is 66,900 VND/kg, down 400 VND/kg.

Regarding world coffee prices, coffee prices on both exchanges continued to decline. At the end of the most recent trading session, Robusta coffee prices on the London exchange continued to decline. September spot futures fell by 21 USD to 2,628 USD/ton and November futures fell by 11 USD to 2,464 USD/ton, both very significant declines. Trading volume was below average...

According to experts, coffee prices on both exchanges reversed and decreased due to funds and speculators balancing and adjusting their business positions under pressure from expected increases in monetary interest rates at policy meetings later this month of major central banks around the world.

Coffee harvesting activities will continue to develop positively in Brazil, thereby creating the premise for ensuring supply in the market in the coming time.

Near the festival season, will world pepper prices recover?

Pepper prices today, July 27, 2023, in the domestic market stagnated and moved sideways after a downward adjustment session. Accordingly, pepper prices in the Central Highlands provinces were purchased by traders around 66,500 - 67,500 VND/kg.

In the Southeast region, pepper prices today also did not fluctuate. Currently, pepper prices in this region are being purchased around the mark of 68,000 - 69,500 VND/kg.

Accordingly, in Dong Nai, pepper price is at 68,000 VND/kg. Pepper price in Binh Phuoc is at 68,500 VND/kg. Pepper price in Ba Ria Vung Tau is still the highest and today is purchased by traders at 69,500 VND/kg.

At the end of the most recent trading session, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 3,732 USD/ton, up 0.13%; The price of Muntok white pepper was 6,462 USD/ton, up 0.15%. For the remaining countries, pepper prices remained stable.

Commenting on the market, the latest news from the Vietnam Pepper and Spices Association shows that after 5 weeks of stability, Indian pepper prices have increased. This has encouraged production companies to purchase and consume large quantities.

Those who have pepper stocks are not releasing their stocks to the market in the hope that prices will rise. With the festive season approaching, they expect prices to rise further. Will the upward trend in the Indian market from now until the end of the year help global pepper prices recover?

Government requests research to tighten quality of imported steel

Steel price today, July 27, 2023, recorded an increase of 14 yuan/ton on the Exchange. The government issued an official dispatch requesting research to tighten the quality of imported steel.

Recently, the Government Office issued Official Dispatch No. 5590/VPCP-CN to the Ministry of Industry and Trade and the Ministry of Science and Technology conveying the direction of Deputy Prime Minister Tran Hong Ha on the proposal of the Vietnam Steel Association on developing regulations to manage the quality of domestically produced steel and imported steel.

Specifically, according to this dispatch, Deputy Prime Minister Tran Hong Ha requested the Ministry of Industry and Trade and the Ministry of Science and Technology to study and resolve within their authority; report to the Prime Minister on issues beyond their authority and the results of resolving the recommendations before July 28.

Regarding the story of imported steel quality, on July 6, the Vietnam Steel Association sent a petition, stating that steel is a product with a large import volume and is also a core and backbone industry, so steel quality affects many different economic sectors.

Currently, countries around the world are increasingly applying technical barriers and trade defense measures to protect domestic manufacturing industries. Meanwhile, almost all steel products imported into Vietnam have an import tax of 0%. Furthermore, trade defense measures such as steel billet self-defense have been removed, other steel products such as galvanized steel, color-coated steel, steel pipes, prestressed steel, etc. are not subject to any trade defense measures. At the same time, steel products are not included in the list of group 2 goods according to the decision of the Ministry of Industry and Trade, so they are not subject to specialized inspection of product quality.

Therefore, the Vietnam Steel Association recommends that it is necessary to develop processes and procedures for checking the quality of steel imported into Vietnam. Strengthen investigations and apply appropriate trade defense measures to limit unfair competition of steel products and protect the domestic steel industry. In addition, it is necessary to develop and promulgate national technical regulations on metal-coated and color-coated steel...