World and domestic gold gap narrows; Pig price highest of the year
(Baonghean.vn) - World and domestic gold prices narrowed the gap; Natural gas prices fell to a 4-week low; Domestic coffee prices decreased slightly; Pork prices reached the highest level of the year, poultry meat exports increased dramatically by 798%... are information about the market today.
World and domestic gold narrow the gap
Gold price today (July 13), world gold increased to 1,957.8 USD/ounce (equivalent to 56.28 million VND/tael).
Converting world gold price according to foreign exchange rate at Vietcombank: 1 USD = 23,860 VND, world gold price is equivalent to 56.28 million VND/tael, 10.92 million VND/tael lower than SJC gold selling price.
In the domestic market, at the close of trading on July 12, Saigon Jewelry Company listed the buying price of gold at VND66.60 million/tael; the selling price was VND67.20 million/tael, unchanged in both buying and selling compared to the opening of the trading session on the same day. The difference in the selling price of gold is still VND600,000/tael higher than the buying price.
At the same time, DOJI Group listed the buying and selling price of gold at 66.55 - 67.20 million VND/tael. Compared to the early morning of July 12, the buying and selling price of gold at DOJI remained unchanged. The difference between the buying and selling price of gold at DOJI also remained at 600,000 VND/tael.
Late afternoon of July 12 (Vietnam time), the spot gold price on Kitco was listed at 1,934 USD/oz, down 3.8 USD/oz compared to early morning of the same day. Converting the world gold price according to the foreign exchange rate at Vietcombank: 1 USD = 23,860 VND, the world gold price is equivalent to 55.59 million VND/tael, 11.61 million VND/tael lower than the selling price of SJC gold at the same time.
Natural gas prices fall to four-week low
Gas prices today (July 13), in the early morning (Vietnam time), gas prices decreased by 0.30% to 2.65 USD/mmBTU for natural gas contracts for delivery in August 2023.
European natural gas prices fell to a four-week low as demand waned and maintenance in Norway ended, Bloomberg.com reported.
Benchmark futures in the Netherlands fell 4.7% at their intraday lows, while prices in the UK also fell. Hot weather in some countries failed to translate into significantly higher cooling demand, while ample storage – sites in mainland Europe are now about 80% full – also helped keep prices in check.
In the US, US natural gas futures rose about 2% on forecasts that the weather will remain hotter than normal through the end of July, especially in Texas, and on increased gas supplies to the country's liquefied natural gas (LNG) export plants.
In the domestic market, after a sharp decrease in June to 35,500 VND/12 kg cylinder, from July 1, 2023, each 12 kg gas cylinder delivered to consumers will be further reduced by about 18,000-18,500 VND, depending on the brand.
Thus, domestic gas prices have decreased sharply twice in a row after increasing once. Since the beginning of the year, gas prices have increased twice and decreased five times, with a total decrease of more than VND 140,000 per 12 kg cylinder. Currently, this fuel price is equivalent to April 2022.
The decline in domestic gas prices this time is due to the world gas price in July closing at 387.5 USD/ton, down 57.5 USD/ton compared to June. Currently, about 60% of domestic gas is imported, so gas prices are controlled and affected by world prices.
Domestic coffee prices slightly decreased
Update coffee prices today (July 13); Robusta and Arabica coffee prices on July 13; domestic coffee prices, coffee prices in the Central Highlands provinces on July 13.
Specifically, the price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province in districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at a price of 65,500 - 65,600 VND/kg.
Coffee prices in Gia Lai and Kon Tum provinces stood at VND65,700/kg, down VND100/kg.
Today's coffee price in Dak Lak province in Cu M'gar district is at 65,800 VND/kg. In Ea H'leo district, Buon Ho town, it is purchased at the same price of 65,900 VND/kg.
Regarding world coffee prices, coffee prices on the two exchanges continued to decline. At the end of the most recent trading session, Robusta coffee prices on the London exchange continued to decline. September spot futures fell another $6 to $2,570/ton and November futures fell another $14 to $2,422/ton, significant declines. Trading volume was average.
Similarly, Arabica coffee prices on the New York floor also continued to decline. September spot futures fell another 2.30 cents to 157.55 cents/lb and December futures also fell another 2.30 cents to 157.00 cents/lb, both very significant declines. Trading volume was very high above average.
Highest pork price of the year, poultry meat export increased dramatically by 798%
Supply has dwindled, with pork prices rising to their highest level since the beginning of the year. Meanwhile, exports of poultry meat and edible by-products have surged by 798%.
The price of live pigs in the North is the highest in the country, commonly at 63,000-67,000 VND/kg. In the South, the price of pigs is lower, ranging from 59,000-62,000 VND/kg - the highest price since the beginning of the year.
Commenting on the price of live pigs in the near future, it may reach 70,000 VND, but exceeding this level is very difficult. Because, the price of live pigs in our country is higher than the price in neighboring countries such as China, Thailand, Cambodia, Laos...
According to Mr. Tong Xuan Chinh, Deputy Director of the Department of Animal Husbandry, in the first quarter of this year, the selling price of live pigs was low, many small-scale farmers could not cover their losses so they had to stop. However, in the second quarter, the price of live pigs increased rapidly at a fairly high level, pig farming achieved quite a profit.
Statistics from the General Department of Customs show that in the first 5 months of 2023, Vietnam exported nearly 8,700 tons of meat and meat products, earning 40.64 million USD, up 39.5% in volume and 63.3% in value over the same period in 2022.
Notably, as of May 2023, our country exported 2,580 tons of meat and edible by-products of poultry slaughter, worth 7.11 million USD, a sharp increase of more than 461% in volume and nearly 798% in value compared to the same period in 2022.
Regarding the market, meat and meat products are mainly exported to markets in Hong Kong (China), Belgium, China, France, the US, the Netherlands...