Rice prices remain high; domestic coffee prices hit record high

Low supply, high rice prices

Rice prices today, June 10, in the Mekong Delta remain stable. Sustained demand makes rice prices beneficial to farmers.

Accordingly, AG sticky rice (dry) is priced at around 8,000 - 8,400 VND/kg, Long An sticky rice (dry) is priced at around 8,400 - 8,800 VND/kg; OM 18 is purchased by traders at 6,800 VND/kg; OM 5451 rice is priced at 6,300 - 6,500 VND/kg. IR 50404 rice is priced at 6,200 - 6,400 VND/kg. Nang Hoa 9 rice is purchased by traders at 6,600 - 6,800 VND/kg. Dai Thom 8 rice is priced at 6,800 - 7,000 VND/kg. Nhat rice is priced at 7,800 - 8,000 VND/kg. Nang Nhen rice (dry) is priced at 13,000 VND/kg; AG sticky rice (fresh) costs 6,200 VND/kg.

Sustained demand keeps rice prices favorable for farmers.

Regarding rice, the price of raw rice and finished products remained stable. Accordingly, the price of raw rice fluctuated around 9,500 - 97,000 VND/kg; finished rice was at 10,850 - 10,950 VND/kg. Regarding by-products, the price of broken rice remained stable at 9,400 - 9,500 VND/kg; and dried bran was 7,400 - 7,550 VND/kg.

At the retail market, rice prices remain stable, with regular rice at 11,500 - 12,500 VND/kg; Jasmine fragrant rice at 15,000 - 16,000 VND/kg; Soc regular rice at 15,000 VND/kg; Sticky rice at 16,000 - 18,000 VND/kg; Common white rice at 14,500 VND/kg; Nang Hoa at 18,500 VND/kg; Soc Thai at 18,000 VND/kg; Taiwanese fragrant rice at 20,000 VND/kg; Japanese rice at 22,000 VND/kg; Bran at 7,600 - 8,000 VND/kg; Long grain Thai fragrant rice remains at 18,000 - 19,000 VND/kg and Huong Lai at 19,000 VND/kg.

According to traders, today the amount of raw rice arriving is low, the ports are empty of rice. The summer-autumn rice market is stable, rice prices are stable, and new rice transactions are sporadic. As of June 1, the entire Mekong Delta recorded a summer-autumn crop harvest area of ​​81.8 thousand hectares, equal to 70.7% compared to the same period in 2022.

In the export market, the export price of 5% broken rice from Vietnam is being offered at 498 USD/ton. Meanwhile, the price of 25% broken rice is at 478 USD/ton; Jasmine rice is 578 USD/ton.

According to export enterprises, many rice brands such as ST24, ST25 and Loc Troi 28 have continuously won awards for delicious rice at domestic and international competitions. Many enterprises have taken advantage of the opportunity to build Vietnamese rice brands and dominate the European rice market.

Currently, the average rice export price of Vietnam and Thailand fluctuates at 500 USD/ton. However, thanks to our breakthrough in quality, the fragrant rice brand ST24, ST25 has an export price twice as high as the average rice export price, that is, up to 1,000-1,200 USD/ton.

Domestic coffee prices hit record high

Domestic coffee prices today, June 10, in the Central Highlands provinces increased sharply from 1,900 - 2,100 VND/kg, the highest coffee price exceeded 65,000 VND, this is the highest recorded price since the beginning of the year.

Specifically, the price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province increased by 1,900 VND/kg. In districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at a price of 64,400 - 64,500 VND/kg.

Coffee prices in Gia Lai and Kon Tum provinces increased by VND2,000/kg, standing at VND64,800/kg.

In Dak Nong province, coffee was purchased at the highest price of 65,200 VND/kg, an increase of 2,100 VND/kg.

Coffee prices are currently increasing sharply from 1,900 - 2,100 VND/kg.

Today's coffee price in Dak Lak province increased by 2,100 VND/kg, in Cu M'gar district, the coffee price is currently at 65,000 VND/kg. In Ea H'leo district, Buon Ho town, the price is also 65,100 VND/kg.

With impressive growth in the first 6 months of this year, Vietnam is very close to its goal of breaking the record of 4 billion USD in coffee export value in 2022.

For world coffee prices, technical buy orders from funds and speculators have pushed coffee futures prices up.

At the end of the trading session, Robusta coffee prices on the London floor continued to increase for the fourth session. The July spot futures increased by 86 USD, to 2,760 USD/ton, and the September futures increased by 90 USD, to 2,726 USD/ton, very strong increases. Trading volume remained very high above average.

Similarly, Arabica coffee prices on the ICE US – New York exchange also increased. The July spot price increased by 9.45 cents to 194.85 cents/lb and the September spot price increased by 8.65 cents to 190.35 cents/lb, both very strong increases. Trading volume was at a “huge” level, rarely seen.

According to experts, coffee futures prices on both exchanges have skyrocketed due to technical buying orders from funds and speculators after the weather forecast service of the US Government's National Climate Center predicted a 90% chance of El Nino weather conditions occurring later this year, threatening local droughts in coffee-growing countries around the Pacific Rim and bringing heavy rains to the main coffee regions of southeastern Brazil and further afield in West Africa.

Pepper price today June 10: Highest 72,000 VND/kg

Pepper prices today, June 10, continued to decrease by 500 VND/kg in the Southeast. Currently, domestic pepper prices fluctuate around 70,000 - 72,000 VND/kg.

Accordingly, in the Central Highlands region, pepper prices remained stable today. Specifically, the price of pepper in Chu Se (Gia Lai) on June 10 was purchased by traders at 70,000 VND/kg. In Dak Lak and Dak Nong provinces, pepper prices remained around 71,000 VND/kg.

In the Southeast region, pepper prices today decreased by 500 VND/kg. In Ba Ria Vung Tau, pepper prices are being purchased by traders at 72,000 VND/kg, down 500 VND/kg. In Binh Phuoc, pepper prices are at 71,500 VND/kg, down 500 VND/kg; Dong Nai 70,500 VND/kg, down 500 VND/kg.

Pepper prices in the domestic market continued to decline today. Pepper prices have been falling continuously since the beginning of the week. Compared to the beginning of the week, domestic pepper prices have lost 3,000 VND/kg.

In the world market, at the end of the most recent trading session, the International Pepper Community (IPC) listed a decrease in prices for Indonesian pepper. Accordingly, the price of Lampung black pepper (Indonesia) closed at 3,758 USD/ton, down 0.19%; The price of Muntok white pepper was 6,207 USD/ton, down 0.19%.

Pepper prices today in the domestic market continue to decline.

In the remaining countries, pepper prices remained stable. The price of Brazilian black pepper ASTA 570 was at 3,350 USD/ton; the price of Kuching (Malaysia) black pepper ASTA remained at 4,900 USD/ton; the price of Malaysian white pepper ASTA remained at 7,300 USD/ton.

Vietnam black pepper price is traded at 3,500 USD/ton for 500 g/l, 3,600 USD/ton for 550 g/l; white pepper price is at 5,000 USD/ton.

In the export market, exports to the Chinese market continued to grow and reached 10,255 tons, up 2.6% compared to the previous month. Exports to the US market were also positive, reaching 5,409 tons, up 41.7%. Next were the Arab markets: 1,680 tons, up 157.7%; Germany: 1,028 tons, up 8.4%; the Netherlands: 1,013 tons, up 9.3%...

In May, Vietnam's pepper exports reached 131,777 tons, of which black pepper reached 119,832 tons and white pepper reached 11,945 tons. Total export turnover reached 408.9 million USD, black pepper reached 354.1 million USD and white pepper reached 54.7 million USD.

Compared to the same period last year, the export volume increased by 30.0%, equivalent to 30,438 tons. However, the export turnover decreased by 12.7%, equivalent to a decrease of 59.5 million USD. The average export price of black pepper in the first 5 months reached 3,443 USD/ton, white pepper reached 4,955 USD/ton, down 21.7% and 18.4% respectively compared to the same period.

Gold priceDomestically, SJC gold reaches 67.10 million VND

Gold price today June 10, domestic gold price increased slightly, with JSC gold price currently at 67.10 million VND/tael (selling). Meanwhile, world gold price decreased slightly, currently at 1960 USD.

At the time of survey at 5:00 a.m. on June 10, on the trading floor of Saigon Jewelry Company SJC, SJC gold was 66.50 million VND/tael for buying and 67.10 million VND/tael for selling.

Gold price today June 10: Domestically covered in green, SJC gold reaches 67.10 million VND.

At Phu Quy Jewelry Company, at the time of survey, the listed price of SJC gold was at 66.45 - 67.05 million VND/tael (buy - sell).

DOJI listed the price of 9999 gold at 66.45 million VND/tael for buying and 67.00 million VND/tael for selling.

Vietinbank Gold price is listed at 66.50 million VND/tael for buying and 67.12 million VND/tael for selling.

The price of SJC gold at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 66.50 - 67.04 million VND/tael (buy - sell). The price of 24K Rong Thang Long gold of Bao Tin Minh Chau is listed at 55.48 - 56.33 million VND/tael in two directions.

According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 1,960.745 USD/ounce. Converted according to the current exchange rate at Vietcombank, the world gold price is about 55.64 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 11.46 million VND/tael higher than the international gold price. Meanwhile, the US gold futures price decreased by 0.1%, to 1,977.40 USD.