Gas prices continue to climb, gas demand is expected to increase; Vietnam exports the most seafood to the US
(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 priceContinued escalation, 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 change, in addition to forecasts of hotter weather this summer, is due to longer-than-expected maintenance at key gas plants in Norway. The heatwave forecast from June 21-28 is likely to boost demand for gas for power generation.
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 35,500 VND/12 kg cylinder and 148,000 VND/50 kg cylinder. Accordingly, the maximum retail price to consumers is 403,000 VND/12 kg cylinder and 1,678,000 VND/50 kg cylinder.
Similarly, the Southern branch of Vietnam LPG Gas Trading Joint Stock Company reduced the gas price 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 retail gas products also reduced by VND2,968/kg. Thus, City Petro’s 12kg gas cylinder will be reduced by VND35,500/cylinder, and 45kg gas cylinder will be reduced 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.
Vietnam's seafood exports in May decreased due to lower consumption 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 returned to 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 have 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 mid-June to 3.72 billion USD.
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 price (Gia Lai) is currently being 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.
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 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 about 6,600 - 6,800 VND/kg; Dai Thom 8 rice at about 6,800 - 7,000 VND/kg; and Nhat rice at about 7,800 - 8,000 VND/kg.
Nang Nhen rice (dried) costs 13,000 VND/kg. Glutinous rice costs 6,200 VND/kg. Dried An Giang glutinous rice fluctuates around 7,400 - 7,600 VND/kg.
While paddy prices decreased, raw 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, an increase of 45 VND/kg. IR 504 finished rice was priced at 11,250 VND/kg, a slight decrease of 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.