Market today: Prices of many agricultural products decrease; Gasoline prices continue to rise

Domestic coffee prices drop by 700 VND/kg

Coffee prices today, July 12, 2023, in the domestic market decreased by 600 - 700 VND/kg, fluctuating at 65,700 - 66,100 VND/kg.

Specifically, the price of green coffee beans (coffee beans, fresh coffee beans) in Lam Dong province decreased by 600 VND/kg. In districts such as Bao Loc, Di Linh, Lam Ha, coffee is purchased at a price of 65,600 - 65,700 VND/kg.

Coffee prices in Dak Lak province today decreased by 700 VND/kg, in Cu M'gar district, coffee prices are currently at 65,900 VND/kg. In Ea H'leo district, Buon Ho town, coffee is purchased at the same price of 66,000 VND/kg.

Regarding world coffee prices, coffee prices on both exchanges simultaneously decreased due to selling pressure for the new crop, despite the report that inventory on the ICE exchange is at a "red alert" level.

Specifically, at the end of the most recent trading session, Robusta coffee prices on the London floor reversed and decreased. September spot futures fell by 45 USD to 2,576 USD/ton and November futures fell by 39 USD to 2,436 USD/ton, both quite strong declines. Trading volume was above average.

Similarly, Arabica coffee prices on the New York floor also decreased. September spot futures decreased by 1.05 cents to 159.85 cents/lb and December futures decreased by 0.75 cents to 159.30 cents/lb, both slight decreases. Trading volume was above average.

Previously, the US Department of Agriculture (USDA) forecast that Vietnam's coffee output this year would decrease by more than 7%, raising concerns that global supply will be tightened amid increasingly high demand for Robusta coffee.

Pepper price today decreased by 500 VND/kg

Pepper prices today, July 12, 2023, in the domestic market decreased by 500 VND/kg in key regions. Accordingly, in the Central Highlands region, pepper prices were purchased by traders around 67,000 - 68,000 VND/kg. Specifically, Chu Se pepper price (Gia Lai) was purchased by traders at 67,000 VND/kg, down 500 VND/kg. In Dak Lak, pepper prices remained at 68,000 VND/kg, down 500 VND/kg. In Dak Nong, pepper prices today were at 68,000 VND/kg, down 500 VND/kg.

In the Southeast region, pepper prices today also decreased by 500 VND/kg. Currently, pepper prices in this region are being purchased around 68,500 - 70,000 VND/kg.

In Dong Nai, pepper price is at 68,500 VND/kg, down 500 VND/kg. In Ba Ria Vung Tau, the price is still the highest and today it is purchased by traders at 70,000 VND/kg, down 500 VND/kg.

In the world market, according to the International Pepper Association (IPC), the updated and listed price of Indonesian black pepper has decreased. Meanwhile, the price of white pepper has increased.

Vietnam's black pepper price is trading at 3,500 USD/ton for 500 g/l, 550 g/l at 3,600 USD/ton; white pepper price is at 5,000 USD/ton.

According to experts, the current pepper price is still not attractive enough for farmers to replant new pepper crops in the context of having to compete with other crops that are more competitive in terms of profit.

However, this price has caused a cautious reaction, reducing orders from importers from Europe and the US, saying that the price is not competitive and hoping that supply from Indonesia in July will help cool the market. In addition, there is still inventory from previous years from EU and US importers.

Dragon fruit is strong after a long period of stability at a high level.

After a period of good consumption, high prices, and benefits for growers, about a week ago, dragon fruit suddenly dropped sharply and became cheap.

According to the reporter, the retail price of dragon fruit in Ho Chi Minh City is currently at only 15,000 VND/2kg - 15,000 VND/kg while previously it was stable at 30,000 - 40,000 VND/kg.

Even at supermarkets, dragon fruit is also among the cheapest fruits. For example, at Co.opMart Rach Mieu (Phu Nhuan District), dragon fruit is on sale for only 11,900 VND/kg, while at Bach Hoa Xanh on Vo Truong Toan Street (Binh Thanh District), the retail price is only 15,000 VND/kg.

On fruit wholesale groups on social networks, many traders advertise dragon fruit for only 5,000 VND/kg, introduced as a suitable product to sell cheaply to workers' areas.

Speaking to reporters, the director of an agricultural cooperative in Long An province confirmed that dragon fruit is flooding the market and the price level is below 10,000 VND/kg for all three types of dragon fruit: red flesh, white flesh and yellow skin dragon fruit. The reason is that the goods are in season, colliding with many other fruits that are also in season, so the price is low.

Meanwhile, Mr. Nguyen Quoc Trinh, Chairman of the Long An Province Dragon Fruit Association, added that it is currently the end of the main dragon fruit season, with a large output but heavy rains and the development of pests and diseases. The dragon fruit does not meet the required appearance, so it cannot be exported, and is mainly consumed domestically and sold to processing factories at low prices.

Gasoline price today July 12: Continuing to rise

Oil prices today (July 12) on the world market continued to increase from the previous session. Expectations of increased demand along with concerns about tight supply in the second half of this year pushed oil prices up.

In the domestic market, the selling prices of gasoline and oil today are applied according to the price levels at the management session on the afternoon of July 11 of the Ministry of Finance - Industry and Trade. Accordingly, gasoline and oil prices are adjusted up (except for E5 gasoline).

Specifically, the price of RON 95-III gasoline increased by VND70/liter to VND21,490/liter; the price of E5 RON 92-II gasoline decreased by VND60/liter to VND20,410/liter.

Diesel price increased by 450 VND/liter, selling price is 18,610 VND/liter. Kerosene price increased by 400 VND/liter, selling price is 18,320 VND/liter.

In the world market, gasoline prices today (July 12) continued to rise from the previous session.

Analysts said oil prices rose due to tight supply and hopes of higher demand prospects in the coming time.

Oil prices were also supported by a fall in the US dollar to a two-month low. A weaker US dollar makes oil cheaper for buyers holding other currencies and should boost consumer demand.