Vietnam's rice export price is the highest in the world; gold and dollar prices increase again
(Baonghean.vn) - The weekend trading market recorded many commodities increasing in price again. Among them, Vietnamese rice has the highest export price in the world; gold and dollar increased slightly.
Vietnam's rice export prices continue to increase
Rice prices on June 11 in the Mekong Delta continued to move sideways. Accordingly, AG sticky rice (dry) was priced at around 8,000 - 8,400 VND/kg, Long An sticky rice (dry) was priced at around 8,400 - 8,800 VND/kg; OM 18 was purchased by traders at 6,800 VND/kg; OM 5451 rice was priced at 6,300 - 6,500 VND/kg. IR 50404 rice was priced at around 6,200 - 6,400 VND/kg. Nang Hoa 9 rice was purchased by traders at around 6,600 - 6,800 VND/kg. Dai Thom 8 rice was priced at around 6,800 - 7,000 VND/kg. Nhat rice was priced at around 7,800 - 8,000 VND/kg. Nang Nhen rice (dry) costs 13,000 VND/kg; AG sticky rice (fresh) costs 6,200 VND/kg.
Regarding rice, the prices of raw rice and finished products remained stable. Accordingly, the price of raw rice fluctuated around 9,500 - 97,00 VND/kg; finished rice was at 10,850 - 10,950 VND/kg. Regarding by-products, the price of broken rice remained stable while the price of dry bran increased by 50 VND/kg. Accordingly, the price of broken rice remained stable at 9,400 - 9,500 VND/kg; dry bran was 7,400 - 7,600 VND/kg, an increase of 50 VND/kg.
 |
Vietnam's rice export prices hit a record high. |
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; Regular 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; Thai long grain fragrant rice 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 7, Kien Giang province has harvested 6,900 hectares of rice.
Last week, Vietnamese rice deliveries to the Philippines, China and Malaysia all increased sharply compared to the same period last year, while deliveries to African markets were much lower than the same period.
Regarding export rice prices, delivery prices of sticky rice, broken sticky rice and OM5451 all tended to decrease compared to last week, while delivery prices of fragrant rice varieties fluctuated upwards.
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.
Vietnam's rice export prices have been increasing continuously and staying at a high level over the past week. Meanwhile, Thailand's and Pakistan's rice export prices have been continuously adjusted downwards. On June 8, Thailand's 5% broken rice export price decreased by 2 USD/ton to 492 USD/ton, 6 USD/ton lower than Vietnam's rice; Pakistan's 5% broken rice decreased by 10 USD/ton to 493 USD/ton, 5 USD/ton lower than Vietnam's rice.
The dollar turned "green" again
USD exchange rate today, June 11, USD exchange rate in the world and in the country increased simultaneously. The State Bank of Vietnam announced the central exchange rate with the US dollar at 23,717 VND.
The US dollar edged past a two-week low in recent trading, as investors looked ahead to inflation data and the US Federal Reserve's interest rate decision next week.
 |
Dollar exchange rate on June 11. |
The Fed is expected to keep interest rates steady at its meeting on June 13 and 14, but a rate hike in July is still seen as possible, as inflation exceeds its 2% target. Data due on June 13 will show that headline inflation rose at an annual rate of 4.1% in May, while core inflation rose 5.3%.
The US dollar has been trading mostly in a narrow range, as investors await clearer signals on the strength of the economy and inflation trends.
Data released on June 9 showed that the number of Americans filing new claims for unemployment benefits rose to its highest level in more than 1.5 years last week. Meanwhile, May jobs data, released late last week, showed employers added 339,000 jobs, exceeding expectations, but the unemployment rate also rose to a seven-month high of 3.7%.
“This spike in jobless claims is near a two-year high and is being viewed by markets as a clear signal that the US economy is weakening and the Fed will be more cautious about raising interest rates,” said David Stritch, strategist at CaxtonFX.
In contrast, the euro fell 0.30% against the dollar to $1.0749. The European Central Bank is expected to raise eurozone interest rates by 25 basis points to 3.50% at its upcoming meeting.
Gold price increased slightly, reaching 66.4 million VND/tael sold
At the time of survey at 5:00 a.m. on June 11, on the trading floor of Saigon Jewelry Company SJC, SJC gold was 66.55 million VND/tael for buying and 67.15 million VND/tael for selling.
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 67.05 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.
 |
Gold price on June 11 increased slightly. |
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 55.54 - 56.39 million VND/tael.
The world gold price recorded at 5:00 a.m. today, Vietnam time, was 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.