World gold price reverses to decrease; Summer-Autumn rice price increases, traders come to the fields to deposit

World gold price reverses down

Gold prices today, July 7, on the world market decreased after the US employment report was better than expected.

At the time of survey at 6:00 a.m. on July 7, 2023, the gold price today, July 7, on the trading floors of some companies is as follows:

The price of 9999 gold bars at SJC Ho Chi Minh City is 66.45 million VND/tael (buy) and 67.05 million VND/tael (sell). SJC Hanoi is listed at 66.45 million VND/tael (buy) and 67.07 million VND/tael (sell).

Doji Hanoi listed at 66.4 million VND/tael (buy) and 67 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 66.45 million VND/tael and sold at 66.95 million VND/tael.

On the world market, spot gold price on July 6 (Vietnam time) was trading at 1,911 USD/ounce.

Summer-Autumn rice prices increase, traders come to the fields to deposit

Farmers in Hau Giang province are starting to harvest the summer-autumn rice crop. Traders are now coming to the fields to deposit money to buy fresh rice from farmers at a price 300-400 VND/kg higher than about a week ago.

Up to this point, farmers in Hau Giang province have harvested more than 12,000 hectares out of a total of more than 75,200 hectares of Summer-Autumn rice that have been planted.

Currently, traders come to the fields to deposit money to buy fresh rice from farmers for some main varieties being harvested such as OM 18, Dai Thom 8 and OM 5451... at the price of 6,600-6,800 VND/kg, an increase of 300-400 VND/kg compared to about a week ago, in which, OM 18 rice variety has the strongest increase, when it has increased from 6,300 VND/kg to 6,700 VND/kg.

Although rice prices are increasing slightly, the rice yield of farmers in the province is lower than the previous summer-autumn crop. According to people's feedback, due to recent heavy rains in the province, rice has fallen over a large area, affecting the quality and yield. On the other hand, prolonged heavy rains also increase pests on rice plants, especially grain smut disease.

Currently, the yield of Summer-Autumn rice (fresh rice) in farmers' fields in the province only fluctuates from 550-600kg/cong (1,300m²), down about 100kg/cong compared to last year's Summer-Fall crop.

According to preliminary calculations by farmers, with current productivity and selling prices, after deducting investment costs, rice growers will achieve a profit of around 20 million VND/ha in this Summer-Autumn crop.

Domestic coffee prices decreased by 200 VND/kg

Coffee prices today, July 7, 2023, in the domestic market decreased by 200 VND/kg, fluctuating at 64,500 - 65,100 VND/kg.

Specifically, the price of green coffee beans (green 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 64,400 - 64,500 VND/kg.

Coffee prices in Gia Lai and Kon Tum provinces stood at 64,700 VND/kg.

Coffee price today in Dak Lak province today, in Cu M'gar district, coffee price is currently at 64,800 VND/kg. In Ea H'leo district, Buon Ho town, it is purchased at the same price of 64,900 VND/kg.

In Dak Nong province, coffee was purchased at the highest price of 65,100 VND/kg.

According to the General Statistics Office, in the first 6 months of 2023, Vietnam exported 1.02 million tons of coffee worth 2.405 billion USD, down 2.2% in volume but up 3.0% in value over the same period last year. Of which, in June 2023 alone, Vietnam exported 150,000 tons of coffee worth 392 million USD, up 9.1% in volume and 24.3% in value over the same period in 2022.

This is the highest coffee export turnover in the first 6 months of the year in Vietnam in the past 10 years. With the results achieved, it is likely that 2023 will be the next year that Vietnam reaches the 4 billion USD coffee export turnover (after recording a record 4.06 billion USD in 2022).

According to estimates by the Vietnam Coffee Association (Vicofa), Vietnam's coffee output in the 2022/23 crop year will decrease by 10-15% compared to the 2021/22 crop year, and inventories among farmers have almost been depleted. Therefore, the price of Robusta coffee is forecast to continue to increase in the coming time as demand exceeds supply, which has had a positive impact on the price of this commodity, along with weather factors.

Highest pepper price in Ba Ria - Vung Tau

Pepper prices today, July 7, 2023, in the domestic market stagnated and moved sideways after an upward adjustment session. Currently, pepper prices fluctuate around 67,000 - 70,000 VND.

Accordingly, in the Central Highlands region, pepper prices are purchased by traders at around 67,000 - 68,000 VND/kg. Specifically, Chu Se pepper price (Gia Lai) is purchased by traders at 67,000 VND/kg. In Dak Lak, pepper prices remain at 68,000 VND/kg. In Dak Nong, pepper prices today are at 68,000 VND/kg.

In the Southeast region, pepper prices today have not fluctuated compared to yesterday. Currently, pepper prices in this region are being purchased around the mark of 68,500 - 70,000 VND/kg.

In Dong Nai, pepper price is at 68,500 VND/kg. In Binh Phuoc, pepper price is at 69,000 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.