Market news June 8

Mixed fluctuations in gasoline prices; State Bank affirms no shortage of gold bars; Plums flooding the market… are notable market news.

*Gasoline prices fluctuate

World oil prices increased for the second consecutive day this week. Specifically, WTI crude oil prices increased to 75.696 USD/barrel, equivalent to an increase of 2.20%; Brent oil prices increased to 80.019 USD/barrel, equivalent to an increase of 2.05% compared to the previous trading session. Domestic gasoline prices have been adjusted for the 23rd time since the beginning of the year. The most recent adjustment was in a downward direction.

*State Bank confirms no shortage of gold bars

Currently, there is a widespread false information about the State Bank lacking gold to sell. At many gold selling points, there are people who hire people to queue up to buy gold with the aim of pushing up prices, taking advantage of the difference, causing market instability and causing damage to the economy . The State Bank affirms that there is no shortage of gold and said that at many gold selling points, it is coordinating with the police to verify and strictly handle acts of speculation and market manipulation.

* Vietnam is Cambodia's second largest trading partner.

Vietnam is currently Cambodia's second largest trading partner in the international market, after China. In the first quarter of 2024, Cambodia's export turnover to Vietnam reached 1.39 billion USD, an increase of 53% over the same period in 2023. Vietnamese goods imported into Cambodia reached 0.933 billion USD, a decrease of 2.5% over the same period in 2023.

*Plums flood the market

In recent days, plums have been sold in abundance in traditional markets, on the streets and in modern supermarket systems, with prices ranging from 25,000-50,000 VND/kg. At Co.opmart and Co.opXtra, prices have remained stable, ranging from 25,900-29,900 VND/kg.

*Pepper prices increase sharply

Supply is scarce, countries around the world are rushing to buy, pushing up Vietnam's pepper prices. Agents in Dak Lak , Dak Nong, Gia Lai, Dong Nai... continue to increase pepper purchase prices by 6,000-13,000 VND/kg, to 152,000-157,000 VND/kg. This is a large price increase that only happens in many years.

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