Rice export price increased by 5 USD/ton; Steel export to the US increased sharply

Export rice price increased by 5 USD/ton

Today (July 18), the domestic rice price increased. In the export market, the rice price also increased by 5 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.

Regarding rice, the prices of raw rice and finished products have been adjusted up. Accordingly, IR 504 raw rice is at 10,200 - 10,250 VND/kg, up 50 VND/kg. Similarly, finished rice is at 11,500 - 11,550 VND/kg, up 50 VND/kg.

According to traders, the current rice supply 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 5 USD/ton. Specifically, 5% broken rice was traded at 518 USD/ton; 25% broken rice at 498 USD/ton.

With this adjustment, Vietnam's 5% broken rice is on par with the same type of Thai rice. Meanwhile, 25% broken rice is 15 USD/ton higher than the same type of Thai rice.

In recent days, since the news that India is considering banning the export of most types of rice, export rice prices of many countries have been adjusted up one after another.

Enterprises and the Vietnam Food Association believe that if India's rice export ban is passed, global rice prices will increase. In the near future, Vietnamese rice will not only benefit in price but also be favorable in export.

Domestic coffee prices remain high

Domestic coffee prices on July 18 in the Central Highlands provinces ranged from 64,900 - 65,600 VND/kg.

Specifically, the price of green coffee beans (green 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 64,800 - 64,900 VND/kg.

Today's coffee price in Dak Lak province in Cu M'gar district is currently at 65,300 VND/kg. In Ea H'leo district, Buon Ho town is purchased at the same price of 65,400 VND/kg.

In Dak Nong province, coffee was purchased at the highest price of 65,600 VND/kg.

Currently, Vietnam has exported coffee to 38 markets around the world. In particular, markets such as the US, Russia, Algeria, Indonesia, Mexico, South Korea... have increased sharply. Specifically, the EU is still the largest coffee export market of our country in the past 6 months with a volume of 385,895 tons, worth 872.9 million USD, down 10.6% in volume and 6.6% in value. This market accounts for 38.3% of the total coffee export volume of the whole country.

For Switzerland, in the first 5 months of 2023, Switzerland increased coffee imports from Vietnam. Specifically, an increase of 8.1% in volume and 11.6% in value compared to the same period last year, reaching 8.18 thousand tons, worth 19.11 million USD.

Vietnam's coffee market share in Switzerland's total imports increased from 7.86% in the first 5 months of 2022 to 9.36% in the first 5 months of 2023.

World gold price increased to 1957.9 USD/oz

Gold price today (July 18), spot gold on Kitco floor is listed at 1957.9 USD/oz, up 1.6 USD/oz compared to the previous session.

Domestic gold market, at the end of the trading session on July 17, Saigon Jewelry Company SJC listed the gold buying price at 66.6 million VND/tael; selling price at 67.2 million VND/tael, unchanged in both buying and selling compared to the opening time of the morning session of the same day. The difference between 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 66.55 - 67.25 million VND/tael. Compared to early this morning, gold at DOJI decreased by 150,000 VND/tael for buying and 100,000 VND/tael for selling, so the difference between the buying price and the selling price is still 700,000 VND/tael.

Meanwhile, at the end of July 17 (Vietnam time), the gold price traded on Kitco floor was at 1957.9 USD/oz. An increase of 1.6 USD/oz compared to the morning session of the same day.

Converting world gold price according to foreign exchange rate at Vietcombank: 1 USD = 23,810 VND, world gold price is equivalent to 56.16 million VND/tael, 11.04 million VND/tael lower than SJC gold selling price at the end of July 17.

Steel exports to the US increased sharply

Steel prices today (July 18) recorded a decrease of 29 Yuan on the exchange. Domestic steel received a positive signal when steel exports to the US increased sharply.

Today's steel price for October 2023 delivery on the Shanghai Futures Exchange fell 29 yuan to 3,719 yuan/ton.

According to the latest statistics from the General Department of Customs, the export volume of iron and steel of all kinds to the US in June was 3 times higher than in May.

In June 2023, the US market became a bright spot with a three-fold increase in steel imports from Vietnam.

In June 2023, export figures to the main markets of steel enterprises such as HSG and NKG, which are Europe and ASEAN, remained at an average recovery level. However, the US market became a bright spot with a three-fold increase in steel imports from Vietnam. The demand for rebuilding US factories and houses gradually returned in a more positive macro context.

With the expectation that the US economy is only at the beginning of the cycle reversal, Vietnamese steel enterprises have great potential to boost export output to this large market. Meanwhile, the price of hot rolled coil in the US maintains a high price range of 900 - 1,000 USD/ton, about 300 - 400 USD/ton higher than the Asian market, as well as compared to Vietnam.

The export market has good signals combined with domestic consumption benefiting from the Government's continuous promotion of public investment disbursement and issuance of many policies to remove difficulties for the real estate industry. It can be hoped that the steel industry will change more positively in the last two quarters of 2023.

Since the beginning of the year, construction steel prices have decreased 14 times in a row. Currently, CB240 steel is at 13.74 - 14.48 million VND/ton; and D10 CB300 is around 14.06 - 15.1 million VND/ton.

According to data from the Vietnam Steel Association (VSA), in the first 6 months of the year, the cumulative production of construction steel reached nearly 5 million tons, down 25.5% over the same period in 2022. Consumption reached nearly 5.1 million tons, down 22.7% over the same period in 2022; of which exports reached 831,000 tons, down 38%.