Gasoline, rice, pepper prices continue to increase; Coffee prices reverse and decrease sharply
(Baonghean.vn) - Rice increased by 800 VND/kg, pepper prices remained stable at an increasing level, gasoline prices increased for 5 consecutive weeks; on the contrary, coffee prices reversed and decreased sharply, these are the outstanding market information today, July 30.
Oil prices rise for 5th consecutive week
PricegasolineThe world has experienced five consecutive weeks of increases last week. In the past week, the prices of two types of oil benchmarks both increased by nearly 5%. Brent crude oil price reached 85 USD per barrel, while WTI crude oil price exceeded 80 USD per barrel.
In the domestic market, the selling prices of gasoline and oil today are applied according to the prices at the management session on the afternoon of July 21 of the Ministry of Finance - Ministry of Industry and Trade. Accordingly, gasoline and oil prices are adjusted to increase sharply.
Specifically, the price of RON 95-III gasoline increased to VND22,790 per liter; the price of E5 RON 92-II gasoline is VND21,630 per liter. The price of diesel is VND19,500 per liter. The price of kerosene is VND19,180 per liter.
During the week, rice price increased by 800 VND/kg.
Rice priceJuly 29, in the Mekong Delta region remained stable.
Accordingly, at An Giang warehouse, OM 5451 rice is being purchased by traders at the field at 6,700 - 6,800 VND/kg; OM 18 rice is 6,900 - 7,100 VND/kg; IR504 rice is being purchased by traders at 6,700 - 6,900 VND/kg; Dai Thom 8 rice is at 6,900 - 7,100 VND/kg; Nang Hoa 9 is priced at 6,600 - 6,800 VND/kg; Nhat rice is also stable at 7,800 - 8,000 VND/kg; Nang Nhen rice (dry) is at 13,000 VND/kg.
Regarding rice, the price of raw rice and finished rice products continued to increase. Accordingly, IR 504 raw rice was at 10,700 - 10,850 VND/kg, an increase of 150 VND/kg. Finished rice was at 12,400 - 12,500 VND/kg, an increase of 200 VND/kg.
Last week, rice prices increased sharply by 500 VND/kg for raw rice and 800 VND/kg for finished rice. By-product prices also increased sharply by 600 VND/kg.
The reason for the sharp increase in rice prices is that countries have increased purchases after India's ban on rice exports.
At retail markets, the price of regular rice is at 11,500 - 12,500 VND/kg; glutinous rice remains stable at 14,000 - 16,000 VND/kg. Nang Nhen rice is priced at 22,000 VND/kg. Long-grain Thai fragrant rice remains at 18,000 - 19,000 VND/kg; Jasmine fragrant rice is priced at 15,000 - 16,000 VND/kg.
In the export market, Vietnamese rice export prices remained stable. Specifically, 5% broken rice was traded at 558 USD/ton; 25% broken rice was at 538 USD/ton.
Last week, Vietnam's export rice prices continued to increase sharply by 22 USD/ton for 5% broken rice and 25 USD/ton for 25% broken rice.
Pepper market tends to increase in price
PricepepperToday (July 30), the domestic market remained stable after an upward adjustment session. Accordingly, pepper prices in the Central Highlands provinces were purchased by traders at around 67,000 - 68,000 VND/kg.
In the Southeast region, pepper prices today also did not fluctuate. Currently, pepper prices in this region are being purchased around the mark of 69,000 - 70,500 VND/kg.
Accordingly, in Dong Nai, pepper price is at 69,000 VND/kg. Pepper price in Binh Phuoc is at 69,500 VND/kg. Pepper price in Ba Ria Vung Tau is still the highest and today is purchased by traders at 70,500 VND/kg.
Thus, today's pepper price in the domestic market remained stable after an upward adjustment session. The domestic pepper market traded stably. Last week, domestic pepper price increased by 500 VND/kg in the Southeast region.
Mr. Le Viet Anh - Chief of Office of the Vietnam Pepper and Spice Association (VPSA) commented that the pepper crop in Vietnam in 2023 is relatively positive, with an estimated harvest output of 200,000 tons, an increase of 9.3% over last year.
The International Pepper Community commented that the market this week showed that domestic pepper prices in Sri Lanka were reported to have increased the most. Indian pepper prices continued to be reported to have an upward trend in the past 2 weeks.
Thus, pepper prices in the South Asian region are increasing well, in the context of India stopping agricultural exports and the expected poor crop yield this year.
Coffee down 1,500 VND/kg
Coffee priceOn July 30, in the Central Highlands provinces, it decreased by 1,500 VND/kg, the highest at 66,300 VND/kg.
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 are at 66,000 VND/kg; In Dak Lak province today, in Cu M'gar district, coffee prices are at 66,000 VND/kg; In Dak Nong province, coffee prices are purchased at the highest price of 65,300 VND/kg.
Regarding world coffee prices, coffee prices on the two exchanges suddenly plummeted under pressure from US dollar interest rates when the Fed decided to increase inflation control, and the ECB (European Central Bank) also increased Euro interest rates.
At the end of the most recent trading session, Robusta coffee prices on the London floor reversed and plummeted. September spot futures fell by $85 to $2,588/ton and November futures fell by $62 to $2,437/ton, both very sharp declines. Trading volume remained above average.
Observers said that the coffee harvest in Brazil’s main producing regions will continue to accelerate this week thanks to dry weather conditions. The rapid harvest has made new supplies brighter, thereby encouraging farmers to sell faster. This has helped reduce concerns about supply shortages in the market due to previous sales restrictions./.
