Gas prices continue to climb, gas demand forecast to increase; Vietnam exports the most seafood to the US

Viet Phuong (According to Congthuong.vn/vtv.vn) DNUM_CHZAGZCACD 06:31

(Baonghean.vn) - Gas prices continue to climb, gas demand is forecast to increase; Vietnam exports the most seafood to the US... are information about the market situation today (June 27).

Gas priceContinue to escalate, gas demand forecast to increase

Gas price today, June 27, increased by 1.06%, reaching 2.75 USD/mmBTU, gas demand is forecast to increase in the short term.

Natural gas bulls are making a significant push above the $2 average price for the fuel as warmer temperatures could prompt Americans to crank up their air conditioners more than usual this summer, according to Investing.com.

With a gain of nearly 15% in June, Henry Hub gas futures are on track for their best performance since August 2022 - the month they hit a 14-year high of $10/mmBTU.

The reason for the fluctuation, in addition to the forecast of hotter weather this summer, is longer-than-expected maintenance at key gas plants in Norway. The forecast heatwave from June 21-28 is likely to boost demand for gas to generate electricity.

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Since the beginning of the year, gas prices have decreased four months and increased two months.

In the domestic market, because the world gas price in June closed at 445 USD/ton, down 110 USD/ton compared to May, businesses adjusted their prices accordingly.

Specifically, starting from June 1, the gas price of Pacific Petroleum Trading Joint Stock Company will decrease by VND35,500/12 kg cylinder and VND148,000/50 kg cylinder. Accordingly, the retail price to consumers will be a maximum of VND403,000/12 kg cylinder and VND1,678,000/50 kg cylinder.

Similarly, the Southern branch of Vietnam LPG Gas Trading Joint Stock Company reduced gas prices by VND35,000/12kg cylinder and VND131,250/45kg cylinder. The retail price to consumers is VND384,912/12kg cylinder and VND1,443,000/45kg cylinder.

City Petro branded gas retail products also decreased by VND2,968/kg. Thus, City Petro’s 12kg gas cylinder will decrease by VND35,500/cylinder, and 45kg gas cylinder will decrease by VND133,500/cylinder.

Thus, after the price dropped to 58,000 VND/kg in April, this is the second month that gas prices have continued to decrease. Since the beginning of the year, gas prices have decreased in four months and increased in two months.

Vietnam exports the most seafood to the US

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the seafood market is showing signs of improvement. In particular, the US has returned to its position as Vietnam's largest seafood export market.

The seafood market is showing signs of improvement as May saw the highest seafood export turnover since the beginning of the year. Specifically, in May, Vietnam's seafood exports reached 809.5 million USD, down 23% compared to the same period in 2022, but up more than 7% compared to the previous month, equivalent to an increase of 66 million USD.

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In the first 5 months of the year, Vietnam's seafood exports reached nearly 3.4 billion USD, down 27.9% over the same period in 2022.

Vietnam's seafood exports in May decreased due to lower demand in major markets due to the impact of inflation and high interest rates. However, the signal is better when the rate of decline in exports to some major markets such as the US, China, Japan, Australia, the Netherlands, etc. slowed down compared to the first months of 2023.

The US has regained its position as Vietnam’s largest seafood import market. Specifically, Vietnam’s seafood exports to this market in the first 5 months reached 562.5 million USD. Exports to key markets such as the US, EU, China, Japan, and South Korea all achieved the highest turnover since the beginning of the year.

In the first half of June, seafood exports reached 344 million USD, bringing the export value of this item to 3.72 billion USD by mid-June.

Pepper price today June 27: Decreased in all localities, highest at 71,500 VND/kg

Pepper prices today, June 27, in the domestic market were simultaneously adjusted down by 500 VND/kg. Currently, the highest pepper price is at 71,500 VND/kg.

Accordingly, in the Central Highlands region, pepper prices fluctuate around 68,500 - 69,500 VND/kg. Specifically, in Gia Lai, Chu Se pepper (Gia Lai) is currently purchased by traders at 68,500 VND/kg, down 500 VND/kg. In Dak Lak and Dak Nong provinces, pepper prices also decreased slightly by 500 VND/kg, down to 69,500 VND/kg.

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After a period of low pepper prices, the pepper growing area has decreased significantly.

Similarly, in the Southeast region, pepper prices today also decreased by 500 VND/kg compared to yesterday. In Binh Phuoc province, pepper prices today were purchased by traders at 70,500 VND/kg, down 500 VND/kg, in Dong Nai and Ba Ria Vung Tau, pepper prices remained stable and also decreased by 500 VND, down to 70,000 VND/kg and 71,500 VND/kg.

Thus, after stable sessions over the weekend, pepper prices have adjusted downwards since the beginning of the week.

According to the latest report of the Import-Export Department (Ministry of Industry and Trade), compared to the same period last year, pepper exports in May 2023 to many key markets decreased, such as: the US, the United Arab Emirates, India, Germany, Thailand, Pakistan, ... On the contrary, pepper exports to the markets of the Netherlands, the Philippines, Türkiye, and Egypt increased.

Paddy price decreased by 200 VND, rice price increased slightly

Rice prices today, June 27, in the Mekong Delta fluctuated. While paddy prices decreased by 100-200 VND/kg, rice prices increased slightly by 50 VND/kg.

Specifically, at An Giang warehouse, the price of some rice varieties decreased by 100-200 VND/kg, including: Long An sticky rice (dry) 7,700 - 7,900 VND/kg, down 200 VND; Fresh IR 50404 rice was purchased by traders at 6,200 - 6,400 VND/kg, down 100 VND/kg; OM 5451 rice was priced at 6,200 - 6,400 VND/kg, down 100 VND/kg.

Other rice varieties remained stable compared to yesterday, including: OM 18 at 6,800 VND/kg; Nang Hoa 9 rice at around 6,600 - 6,800 VND/kg; Dai Thom 8 rice at around 6,800 - 7,000 VND/kg; and Nhat rice at around 7,800 - 8,000 VND/kg.

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Paddy price decreased by 200 dong, rice price increased slightly.

Nang Nhen rice (dried) costs 13,000 VND/kg. Sticky rice costs 6,200 VND/kg. Dried An Giang sticky rice fluctuates around 7,400 - 7,600 VND/kg.

While paddy prices decreased, raw rice and finished rice prices increased slightly by 45-50 VND/kg. Accordingly, IR 504 HT raw rice fluctuated around 9,900-9,920 VND/kg, up 45 VND/kg. IR 504 finished rice was priced at 11,250 VND/kg, down slightly by 25 VND/kg.

In the rice export market, the export price of rice has been adjusted down by 5 USD/ton. Accordingly, the price of 5% broken rice from Vietnam is being offered at 503 USD/ton, down 5 USD/ton; 25% broken rice is at 483 USD/ton, down 5 USD/ton. Jasmine rice alone is stable at 578 USD/ton.

According to analysis by some rice exporting enterprises, although the rice price offered at the beginning of the week decreased slightly, it is still at a high level compared to other rice exporting countries because there are still many previously signed contracts. However, the rice supply from the winter-spring crop has run out, so exporters are having to increase their purchases of rice at high prices to complete signed contracts.

Viet Phuong (According to Congthuong.vn/vtv.vn)