Market news July 31

Export turnover reached nearly 34.3 billion USD; VCCI commented on the draft decree on petroleum trading; State Bank reduced gold selling price... are notable market information.

*Export turnover reached nearly 34.3 billion USD

Updated to July, our country's total export turnover reached nearly 34.3 billion USD, up nearly 19% over the same period in 2023. Trade surplus reached nearly 9.5 billion USD, up 60% over the same period last year. Strong commodities such as vegetables, coffee, rice, cashew nuts, rubber, wood and wood products continued to grow well.

*VCCI comments on draft decree on petroleum business

In a dispatch sent to the Ministry of Industry and Trade to comment on the draft decree on petroleum trading (draft 3), the Vietnam Federation of Commerce and Industry (VCCI) proposed two options: Option 1 is to allow businesses to decide on their own selling prices (without a ceiling price), along with regulations on public and transparent prices for consumers to choose. Option 2 is to eliminate the price declaration procedure, or exempt this procedure when businesses sell goods at the ceiling price according to regulations.

*State Bank continuously reduces gold selling price

The State Bank has reduced the selling price of gold bars twice in a row on July 23 and July 30. Specifically, on July 30, based on the plan to sell SJC gold bars directly to 4 state-owned commercial banks and Saigon Jewelry Company (SJC) approved by the Governor of the State Bank, the direct selling price of gold bars by the State Bank was 78 million VND/tael, a decrease of 500,000 VND/tael.

*Pig price slightly decreased

In the South, traders in Dong Nai are purchasing live pigs at 65,000 VND/kg, equal to those in Binh Duong, Tay Ninh... - the highest price in the region. Meanwhile, traders in Vinh Long are purchasing live pigs at 62,000 VND/kg, equal to those in Bac Lieu - this is the lowest price in the region.

*Pepper leaves the mark 150,000 VND/kg

In the Southeast region, prices decreased slightly by 1,000 VND/kg compared to yesterday, trading around 148,000-149,000 VND/kg. Specifically, in Dak Lak, it was purchased at 149,000 VND/kg. Dak Nong pepper price at 149,000 VND/kg decreased slightly by 1,000 VND/kg compared to yesterday.

HM

Source: https://baovinhlong.vn/kinh-te/ban-tin-thi-truong/202407/ban-tin-thi-truong-ngay-317-3185630/