Domestic steel prices fell sharply for the third consecutive session; Rice prices remained stable, attracting more buyers

Domestic steel prices fell sharply for the third consecutive session.

Steel prices today, April 22, recorded many brands announcing price reductions for construction steel with reductions ranging from 130,000 - 1.12 million VND/ton.

This is the third consecutive decline since April 8, after domestic steel has had consecutive increases since the beginning of the year.

According to SteelOnline, Hoa Phat North reduced the price of CB240 rolled steel by VND200,000/ton to VND15 million/ton, and D10 CB300 by VND130,000/ton to VND15.45 million/ton. Both types decreased by around 1%.

Steel prices of many domestic brands have decreased three times in a row after five increases.

Hoa Phat in the Central region reduced the price of CB240 coil steel by VND200,000/ton to VND14.95 million/ton and reduced the price of D10 CB300 by VND130,000/ton to VND15.35 million/ton. In the Southern region, Hoa Phat reduced the price of coil steel by VND170,000/ton and the price of bar steel by VND220,000/ton.

Viet Y Steel reduced the price of CB240 rolled steel by VND300,000/ton to VND15 million/ton and rebar by VND150,000/ton to VND15.25 million/ton, equivalent to a decrease of 1-2% respectively.

With the Viet Duc brand, the above two types decreased by VND200,000/ton and VND250,000/ton to VND14.95 million/ton and VND15.35 million/ton, respectively.

Pomina Central reduced the price of CB240 rolled steel by VND1.12 million/ton to VND15.81 million/ton, equivalent to a decrease of 6.6%. D10 CB300 rebar decreased by VND1.02 million/ton, equivalent to 6%, to VND15.86 million/ton.

Kyoei reduced the price of coil steel by VND300,000/ton and rebar steel by VND410,000/ton. After the reduction, the prices of the two products are VND14.98 million/ton and VND15.38 million/ton, respectively.

Southern Steel recorded a decrease of VND510,000/ton for coil steel and VND610,000/ton for rebar steel, equivalent to a decrease of 3.2-4% respectively. After adjustment, coil steel is now VND15.22 million/ton and VND15.43 million/ton.

The current price of Viet Nhat is 15.12 million VND/ton for steel bars and 14.92 million VND/ton for steel coils, a decrease of 510,000 VND/ton and 660,000 VND/ton respectively, equivalent to a decrease of 3-4%.

Thus, the steel prices of many domestic brands have decreased three times in a row after five increases. The most recent decrease was on April 12. Hoa Phat Northern coil steel is currently 20,000 VND/ton lower than at the beginning of the year, while bar steel is 530,000 VND/ton higher.

After three consecutive reductions, Hoa Phat North recorded a total reduction of VND960,000/ton for coil steel, equivalent to 6%. For steel bars, the total reduction was VND540,000/ton, equivalent to 3.3%. Unlike other brands, Pomina reduced product prices twice. The total reduction for both coil steel and steel bars of Pomina is around 10%.

Rice prices are stable and in high demand.

Rice prices in the Mekong Delta remained stable today, April 22. The rice market was active as demand from other countries continued to increase.

Accordingly, OM 18 rice is being purchased by traders at 6,500 - 6,600 VND/kg; An Giang fresh sticky rice is 6,000 - 6,200 VND/kg; Dai Thom 8 is being purchased by traders at 6,800 - 7,000 VND/kg; IR 504 rice is being purchased by traders in the field at 6,200 - 6,400 VND/kg; Nang Hoa 9 is at 6,400 - 6,600 VND/kg; OM 5451 remains at 6,400 - 6,500 VND/kg; OM 18 rice is at 6,600 - 6,800 VND/kg; Long An dried sticky rice is 9,000 - 9,200 VND/kg, An Giang dried sticky rice fluctuates at 8,400 - 8,600 VND/kg and IR 504 dried rice remains at 6,500 VND/kg; Long An fresh sticky rice is at 6,500 - 6,700 VND/kg.

Rice prices tend to decrease at the weekend; Demand for dry rice is high, out of stock.

Regarding rice, the prices of raw rice and finished products have not fluctuated. Accordingly, the price of raw rice is at 9,400 VND/kg. Similarly, the price of finished rice also remains stable at 10,600 - 10,650 VND/kg.

For by-products, the price of IR 504 rice bran fluctuates around 9,200 VND/kg, dry bran 7,350 VND/kg.

According to businesses, today the amount of rice arriving is low, the ports are empty of rice. Rice prices tend to decrease at the weekend. In the rice market, the price of summer-autumn rice is still high. Winter-spring rice has a small amount, the price is stable. There is a lot of demand for dry rice, so there is a shortage of goods.

Pepper price highest at 67,000 VND/kg, market less quiet

Pepper prices today, April 22, in the domestic market stagnated and tended to move sideways after two consecutive increases. Accordingly, in Gia Lai, pepper prices today were purchased by traders at 64,000 VND/kg. In Dak Lak and Dak Nong provinces, pepper prices today were purchased at 65,000 VND/kg.

Pepper prices remained stable today after an upward adjustment session.

Similarly, in the Southeast, pepper prices also remained stable. Currently, pepper prices in Ba Ria Vung Tau are being purchased by traders at 67,000 VND/kg. In Binh Phuoc and Dong Nai, they remain stable at 66,000 VND/kg.

Pepper prices today stagnated and moved sideways in the last session of the week. According to assessments, increased demand while farmers held back their goods pushed the market up slightly.

In the world market, at the end of the first trading session of the week, the International Pepper Community (IPC) listed the price of Lampung black pepper (Indonesia) at 3,540 USD/ton; the price of Brazilian black pepper ASTA 570 at 2,950 USD/ton; the price of Kuching black pepper (Malaysia) ASTA remained at 4,900 USD/ton.

Domestic raw cashew nuts face great price reduction pressure

The Vietnam Cashew Association (Vinacas) has just announced that in just the first two months of 2023, domestic enterprises imported more than 10,158 tons of cashew kernels, equivalent to nearly 44,000 tons of raw cashew nuts, many times higher than the same period.

Faced with this situation, Vinacas has asked relevant ministries and branches to support finding solutions as well as submitting to the Government for permission to implement a number of regulations to create fairness in processing and trading cashew nuts in the international market.

According to Mr. Bach Khanh Nhut, Vice President of Vinacas, in 2022, according to data from the General Department of Customs, 78,583 tons of cashew nuts were imported into Vietnam, equivalent to nearly 350,000 tons of raw cashew nuts; this quantity is larger than the total raw cashew output produced by Vietnam in 1 year.

Cashew processing. (Photo: Dinh Hue/VNA)

In addition to requesting the Ministry of Industry and Trade and related ministries and branches to have solutions to intervene and support, Vinacas also proposed to negotiate and sign bilateral agreements with each country on tax exemption for each other's import and export goods. Countries can export raw cashew nuts to Vietnam tax-free, but if these countries do not apply tax exemption for raw cashew nuts, Vietnam will not exempt import tax on imported cashew nuts; at the same time, apply a tax rate of 25% to peeled cashew nuts; apply a minimum import price to cashew nuts imported into Vietnam.

Explaining this issue, according to VINACAS, cashew growing countries in Africa have imposed high export taxes on raw cashew exports and exempted taxes on cashew kernels to develop the domestic cashew processing industry. Meanwhile, both raw cashews and cashew kernels imported into Vietnam for processing and export are exempted from taxes by Vietnam. Such policies lead to trade inequality between processing enterprises of the two countries.

In the first two months of 2023, Vietnam imported more than 10,000 tons of cashew nuts, equivalent to nearly 44,000 tons of raw cashew nuts, many times higher than the same period.

In addition, VINACAS is concerned that cashew processing enterprises for export, mainly FDI factories, will gradually block the source of raw cashew nuts for Vietnamese factories, causing small and medium-sized factories in our country to go bankrupt, and eventually dominate the world cashew nut market./.