Market news bulletin, June 6th

Exports of fruits and vegetables brought in nearly $2.6 billion; pork prices continue to rise sharply; durian farmers still make substantial profits despite falling prices… these are some of the notable market news.

*Fruit and vegetable exports brought in nearly $2.6 billion.

According to the Import-Export Department (Ministry of Industry and Trade), in May, fruit and vegetable exports reached US$700 million, an increase of 16.1%. Cumulatively, in the first five months of this year, the value of fruit and vegetable exports is estimated at US$2.59 billion, an increase of over 28% compared to the same period in 2023. Key export markets recording high growth include China, South Korea, the United States, Japan, and Thailand .

Pork prices are still rising sharply.

On the market, the price of live pigs is still rising sharply. In some localities, this commodity has reached 70,000 VND/kg, the highest level in the past two years. Notably, during the hot summer months , the price of live pigs usually drops sharply because consumers eat less meat compared to when the weather is cold.

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*Durian farmers still make a profit, despite falling prices.

Ri 6 durian is being sold to traders for 50,000-56,000 VND/kg, a decrease of about 50% compared to a few months ago. However, durian is currently one of the highest-income fruit crops. With an average yield of about 20 tons/ha, farmers can earn a substantial income if the current selling price remains stable.

*Gasoline prices are forecast to fall.

In today's price adjustment (June 6th), domestic gasoline and diesel prices are predicted to decrease, following the global trend. This week, world oil prices continued their downward trend, falling sharply since the beginning of the week to near their lowest level in four months, well below the $80/barrel mark. According to forecasts, the price of RON 95 gasoline could fall below 22,000 VND/liter in today's adjustment.

*Export rice prices fall

United States - Vietnam: Don't miss

The Ministry of Foreign Affairs received a copy of the Letter of Credence for the U.S. Ambassador to Vietnam.On the afternoon of July 2nd, at the Ministry of Foreign Affairs headquarters, Mr. Le Cong Dung, Director of the State Protocol and Foreign Interpretation Department, received a copy of the Letter of Credence from Ms. Jennifer Wicks, Ambassador of the United States of America to Vietnam.

Ambassador Nguyen Quoc Dung visits and works in Minnesota, USA.From June 28-30, the Vietnamese Ambassador to the United States, Nguyen Quoc Dung, paid a visit and worked in Minnesota.

Vietnam encourages US businesses to expand investment in high technology.On the morning of June 26th, at the Government Headquarters, Deputy Prime Minister Ho Quoc Dung received Mr. Jeff Place, Supply Chain Director of Coherent Group (USA). During the meeting, the Deputy Prime Minister affirmed that Vietnam encourages US businesses to expand investment, especially in high-tech, innovation, and semiconductor industries.

On the export market, Vietnam's rice export prices continued their downward trend today. According to the Vietnam Food Association (VFA), standard 5% broken rice is currently at $577/ton, down $2/ton; 25% broken rice is at $558/ton; and 100% broken rice remains stable at $478/ton. In less than half a year, Vietnam's rice export prices, which were among the highest in the world, have reversed course, falling to the lowest among major exporting countries.

HM

Source: https://baovinhlong.vn/kinh-te/ban-tin-thi-truong/202406/ban-tin-thi-truong-ngay-66-3183978/