Cheap Chinese vegetables and fruits flood Vietnamese markets; US dollar rises sharply
(Baonghean.vn) - Among the Chinese vegetables and fruits flooding into Vietnam, garlic and tangerines account for the largest quantity and are cheaper than Vietnamese agricultural products. In the world, the dollar exchange rate has increased sharply, while crude oil is on a downward trend.
Chinese vegetables and fruits arrive in Vietnamese markets: Tangerines and garlic top the list
Preliminary statistics from the General Department of Customs show that in the first four months of this year, Vietnam spent nearly 560 million USD to import vegetables and fruits, a slight increase of 1.6% over the same period last year.
 |
| Tangerines and garlic are two Chinese products that have recently been imported in large quantities. Photo: NVCC |
The most imported fruits and vegetables include: Apples at 13%; grapes, tangerines, garlic and green beans at 8% each; chestnuts at 7%; cherries at 4%; other types at 37%.
Imported vegetables and fruits from the Chinese market accounted for 41% in the first quarter, with garlic and tangerines topping the list with 19% each. Mushrooms ranked third, accounting for 15%, followed by apples at 11%, pears at 7%, onions at 5%, and the rest were other vegetables and fruits.
Currently, Wenzhou tangerines (China), also known as sugar oranges, are sold everywhere in the market, with prices ranging from 25,000 - 45,000 VND/kg. This type of tangerine looks similar to Australian tangerines, is easy to peel but tastes sweeter.
At some online wholesale markets, Wenzhou tangerines are also "covered" and sold at prices ranging from 8,000 to 12,000 VND/kg depending on the type and the number of customers ordering each time. Meanwhile, Chinese garlic is favored by restaurants and eateries because the garlic cloves are large and easy to peel, and the price of Chinese garlic is also cheaper than Vietnamese goods.
USD exchange rate increased sharply
The State Bank of Vietnam announced the central exchange rate with the US dollar at 23,672 VND, rising to a seven-week high as positive economic data continued to reduce expectations of easing by the US Central Bank; at the same time, the dollar also gained value on expectations of reaching an agreement on the US debt ceiling to avoid potential default risks.
 |
Domestic foreign exchange rates on May 19. Photo: Vietnamnet |
Another data showed a smaller-than-expected decline in the Federal Reserve Bank of Philadelphia's manufacturing index to -10.4 in May from -31.3 in April. The market had expected a decline of -19.8.
World oil and gas prices slightly decreased
In the world market, gasoline and oil prices today (May 19) decreased slightly after improving in the previous session.
According to data from Oilprice, at 10:14 a.m. on May 18 (Vietnam time), Brent crude oil was trading at $76.83 per barrel. WTI oil was at $72.69 per barrel.
At 8:01 p.m. on May 18 (Vietnam time), Brent crude oil price fell to 76.51 USD/barrel, down 0.45 USD, or 0.58%, from the previous session. WTI oil price was at 72.42 USD/barrel, down 0.41 USD, or 0.65%, from the previous session.
In the domestic market, the selling prices of gasoline and oil today, May 19, are applied according to the prices at the management session on the afternoon of May 11 of the Ministry of Finance - Industry and Trade. Specifically, the price of RON 95 gasoline is 21,000 VND/liter. The price of E5 gasoline is down to 20,130 VND/liter. The price of diesel is at 17,650 VND/liter. The price of kerosene is 17,970 VND/liter.
