Many agricultural products reach record growth; Gold prices continue to plummet

Coffee priceOn May 28, domestic coffee prices fluctuated from 60,500 - 61,100 VND/kg, an increase of 400 - 500 VND/kg, helping coffee prices stand at a record level in many years.

Specifically, the price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province increased by 500 VND/kg, in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at a price of 60,400 - 60,500 VND/kg.

Coffee prices in Gia Lai and Kon Tum provinces stood at VND60,800/kg, an increase of VND400/kg.

In Dak Nong province, coffee was purchased at a high price of 61,100 VND/kg, an increase of 500 VND/kg.

Coffee reached over 61,000 VND/kg.

Today's coffee price in Dak Lak province increased by 500 VND/kg, in Cu M'gar district, the coffee price is currently at 61,000 VND/kg. In Ea H'leo district, Buon Ho town, the price is 61,100 VND/kg.

Compared to the same period last week, coffee prices in the domestic market increased sharply by more than 6,000 VND/kg.

Regarding world coffee prices, coffee prices on the two exchanges today maintained opposite trends.

Specifically, at the end of the most recent trading session, Robusta coffee prices on the London floor returned to an upward trend. The July spot futures increased by 21 USD, to 2,574 USD/ton, and the September futures increased by 20 USD, to 2,528 USD/ton, both significant increases. Trading volume remained below average.

In contrast, Arabica coffee prices on the New York floor continued to decline. The July spot futures fell another 1.10 cents to 181.60 cents/lb and the September futures also fell another 1.10 cents to 179.55 cents/lb, both significant declines. Trading volume remained very high above average.

According to experts, coffee futures prices on the two exchanges returned to opposite trends due to increased risk concerns as there is a possibility that the US Federal Reserve (FED) will take strong action again at the upcoming monetary policy meeting.

According to the assessment of Vietnam Food Association,export rice priceVietnam is increasing sharply compared to the same period last year. Recorded in the last week of May 2023, Vietnam's rice export price increased to the highest level since the end of April 2023, in the context of low supply.

Vietnam's 5% broken rice was quoted at $490-$495 per tonne, higher than last week's $485-$495. Its competitor, Thailand's 5% broken rice, was quoted at $495-$500 per tonne this week, slightly lower than last week's average of $500 per tonne.

For rice products, common white rice costs 4,700 VND/kg; Soc rice usually costs 15,000 - 16,000 VND/kg; Nang Hoa rice costs 18,000 VND/kg; Thai long grain fragrant rice costs 18,000 - 19,000 VND/kg; Japanese rice costs 22,000 VND/kg; Bran costs 8,000 - 8,500 VND/kg.

Rice export prices increased sharply.

At the retail market, rice prices remain stable, with regular rice at 11,000 - 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 7,500 - 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.

Closing session 5/27,gold priceThe price of 4-number 9 gold bars at SJC Ho Chi Minh City is listed at 66.35 million VND per tael for buying and 67.05 million VND per tael for selling. The price of 4-number 9 gold bars at SJC Hanoi is listed at 66.35 million VND per tael for buying and 67.07 million VND per tael for selling.

Doji Hanoi listed at 66.35 million VND per tael for buying and 66.95 million VND per tael for selling.

On the world market, the spot gold price on May 27, Vietnam time, was trading at 1,946 USD per ounce. The futures gold price was trading at 1,947 USD per ounce.

Optimistic economic data and rising inflation have negatively impacted gold prices. World gold prices fell for the third consecutive week, in the context of the market possibly adjusting interest rates by the US Federal Reserve next June.