Domestic gas prices increase following world trends; Domestic coffee prices near 80,000 VND/kg

Domestic gas prices increase following world trend

Opening the trading session on the morning of February 1, today's gas price in the world market increased by 1.44% to 2.17 USD/mmBTU for natural gas contracts for delivery in March 2024.

Dutch and UK natural gas prices edged lower on Tuesday morning (January 30), as mild weather and ample storage offset any concerns about liquefied natural gas (LNG) supplies.

LNG tankers carrying Qatari gas are now taking the longer route around Africa instead of via the Suez Canal due to attacks on ships in the Red Sea, while production problems at the US Freeport plant could limit supplies.

Wind power generation will also increase, limiting the need for gas in the power sector. Elexon data shows that peak wind power capacity in the UK will rise from 9.8 gigawatts (GW) on Tuesday to 18.3 GW on Wednesday, out of a total capacity measured at around 23 GW.

In the domestic market, from February 1, domestic retail gas prices will increase following the increase in world gas prices, each 12kg gas cylinder will increase by about 5,000 VND/kg. Specifically, the retail price of Petrolimex gas cylinders in Hanoi in February 2024 (including VAT) is 458,100 VND/12kg household cylinder; 1,832,200 VND/48kg industrial cylinder, respectively increasing by 5,340 VND/12kg cylinder and 21,160 VND/48kg cylinder (including VAT) compared to the gas price in January.

Gas businesses in the South said that gas companies will increase the price of 12kg gas cylinders by over 60,000 VND/cylinder. The equivalent price of gas will increase by about 5,000 VND/kg.

Domestic coffee price is nearly 80,000 VND/kg

Updated at 5:48 a.m. on February 1, coffee prices remained high, with the highest level at 79,700 VND/kg, averaging 79,100 VND/kg in the Central Highlands provinces, and the average purchase price in Dak Nong province was 79,700 VND/kg.

Specifically, the coffee purchase price in Gia Lai and Kon Tum provinces is quite high at 79,100 VND/kg; In Dak Nong province, coffee is purchased at the highest price of 79,700 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 78,500 VND/kg.

In Cu M'gar district, Dak Lak province, coffee is purchased at 79,100 VND/kg, while in Ea H'leo district, Buon Ho town, it is purchased at the same price of 79,200 VND/kg.

Domestic gold price increased dramatically, reaching a peak of 78 million VND/tael

Today, domestic gold increased by 500,000 VND/tael in both buying and selling directions, bringing the official gold price back to the peak of 78 million VND/tael.

At the time of survey at 5:00 a.m. on February 1, 2024, the prices on the trading floor of some companies were as follows:

DOJI listed the price of 9999 gold at 75.25 million VND/tael for buying and 77.85 million VND/tael for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is traded at 75.45 - 77.80 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is traded at 74.45 - 78.00 million VND/tael (buy - sell).

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,038.350 USD/ounce, a difference of 1,842 USD/ounce compared to the gold price in yesterday's trading session. Converted according to the current exchange rate at Vietcombank, the world gold price is about 59.328 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 16.072 million VND/tael higher than the international gold price.

USD recovers

Today's USD exchange rate reversed and increased by 20 VND in both buying and selling directions, the world USD recovered and increased slightly again.

The central VND/USD exchange rate announced by the State Bank today is adjusted to 24,023 VND/USD, down 32 VND compared to the trading session on January 31.

Currently, the exchange rate allowed for trading by commercial banks ranges from 23,400 - 25,140 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 25,140 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 103.62 points - up 0.22% compared to the transaction on January 31.