Abundant supply, summer-autumn rice price remains high; SJC gold drops to 67.2 million VND/tael

Abundant resources, summer-autumn rice prices remain high

Today's rice price (July 20, 2023) in the domestic market decreased by 50 - 100 VND/kg. The market is trading actively.

Accordingly, at An Giang warehouse, IR 504 rice is being purchased at 6,500 - 6,750 VND/kg, down 50 VND/kg; Dai Thom 8 rice is at 6,800 - 7,000 VND/kg, down 100 VND/kg.

For the remaining rice varieties, prices remained stable. Specifically; OM 5451 rice fluctuated at 6,400 - 6,600 VND/kg; OM 18 rice was priced at 6,600 - 6,800 VND/kg; Nang Hoa 9 was priced at 6,600 - 6,800 VND/kg; Japanese rice was also stable at 7,800 - 8,000 VND/kg; Nang Nhen rice (dry) was at 13,000 VND/kg.

Regarding rice, raw rice prices were adjusted down by VND50/kg while finished rice prices remained stable.

Accordingly, IR 504 raw rice is at 10,200 - 10,250 VND/kg, down 50 VND/kg. Finished rice is at 11,600 - 11,700 VND/kg.

According to traders, there is currently a large amount of rice coming in, and prices of all types of rice are high. Demand and purchasing power are good. The rice market is stable, many localities are harvesting summer-autumn rice, and prices of all types of rice are high. Prices of some types of rice have decreased, however, these prices are still higher than those of the winter-spring and summer-autumn crops last year.

In the export market, export rice prices remained stable after the upward adjustment session. Specifically, 5% broken rice was traded at 528 USD/ton; 25% broken rice was at 508 USD/ton.

Vietnamese rice prices continue to increase amid high demand for Vietnamese rice. Many countries around the world are actively purchasing rice to ensure food security as the El Nino phenomenon is forecast to negatively impact agricultural activities globally.

Domestic coffee prices slightly decreased

Domestic coffee prices on July 20, 2023, in the Central Highlands provinces slightly decreased by 100 - 200 VND/kg compared to yesterday.

Specifically, the price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province decreased by 200 VND/kg. In districts such as Bao Loc, Di Linh, Lam Ha, coffee was purchased at a price of 64,700 - 64,900 VND/kg.

Coffee prices in Gia Lai and Kon Tum provinces stood at VND65,200/kg, down VND200/kg compared to the previous day.

Today's coffee price in Dak Lak province decreased by 200 VND/kg, in Cu M'gar district, the coffee price is currently at 65,300 VND/kg. In Ea H'leo district, Buon Ho town, the price is also 65,400 VND/kg.

Preliminary statistics from the General Department of Vietnam Customs show that Vietnam's coffee exports in June 2023 only reached 140,607 tons, lower than the 150,000 tons initially estimated by some industry experts.

PriceThe highest price is 70,500 VND/kg, the year-end supply decreased.

Pepper prices in the domestic market today stagnated and remained stable after an upward adjustment session. Accordingly, pepper prices in the Central Highlands provinces were purchased by traders at around 67,000 - 68,000 VND/kg.

Specifically, Chu Se pepper price (Gia Lai) was purchased by traders at 67,000 VND/kg. Today's Dak Lak pepper price and pepper price in Dak Nong both remained at 68,000 VND/kg.

In the Southeast region, after many sessions of sideways movement, pepper prices today have not fluctuated. Currently, pepper prices in this region are being purchased around 69,000 - 70,500 VND/kg.

Accordingly, in Dong Nai, pepper price is 69,000 VND/kg. Pepper price in Binh Phuoc is 69,500 VND/kg. Pepper price in Ba Ria Vung Tau is still the highest and is purchased by traders at 70,500 VND/kg.

Thus, pepper prices in the domestic market stagnated and moved sideways after the upward adjustment session. The domestic market remained stable.

In the first 6 months of the year, Vietnam exported 152,678 tons of pepper of all kinds, an increase of 29,123 tons over the same period last year. It is forecasted that in the remaining 6 months of 2023, Vietnam will need about 100,000 tons of pepper of all kinds for export, while domestic supply is low, businesses will have to import a significant amount of goods to meet this demand.

SJC gold price drops to 67.2 million VND/tael

Gold price today July 20, SJC gold price decreased slightly by 50,000 VND/tael to 66.65 - 67.25 million VND/tael (buy - sell). At the same time, world gold price decreased to 1973.3 USD/oz.

At the close of trading on July 19, Saigon Jewelry Company listed the buying price of gold at VND66.60 million/tael; the selling price was VND67.20 million/tael, down VND50,000/tael in both buying and selling prices compared to the opening of the trading session on the same day. The difference between the buying and selling prices of SJC gold remained at VND600,000/tael.

At the same time, DOJI Group listed the buying and selling price of gold at 66.5 - 67.2 million VND/tael. Compared to the opening of the trading session on July 19, gold at DOJI remained unchanged in both buying and selling directions, so the difference between the buying price and selling price was still 700,000 VND/tael.

In the world market, at the end of the afternoon of July 19 (Vietnam time), the gold price traded on Kitco floor was listed at 1,973.3 USD/oz, down 4.7 USD/oz compared to early morning of the same day.

Converting world gold price according to foreign exchange rate at Vietcombank: 1 USD = 23,805 VND, world gold price is equivalent to 56.59 million VND/tael, 10.61 million VND/tael lower than SJC gold selling price at the end of July 19.