Vietnam is the number 1 cinnamon exporter, spending 3.38 billion USD to import 2 types of nuts

- Vietnam is the world's leading cinnamon exporter

The above information was given at the 2023 Vietnam Cinnamon Industry Sustainable Development Workshop organized by the Ministry of Agriculture and Rural Development in coordination with other units on the morning of November 15. In 2022, Vietnamese cinnamon accounted for 18.2% of output but 34.4% of global cinnamon export market share. Vietnam is the number 1 cinnamon exporter in the world with a turnover of over 292 million USD. By the end of October 2023, Vietnam exported 74,744 tons of cinnamon, earning 220.3 million USD, up 19.2% in volume but down 1.3% in value compared to the same period last year. The average cinnamon export price in 10 months reached 2,948 USD/ton, down 17.2% compared to the same period in 2022 (according to VTV).

- Vietnam spends 3.38 billion USD to import two very familiar types of nuts.

In the first 10 months of this year, Vietnam spent 3.38 billion USD to import two very familiar grains, corn and soybeans, to serve the needs of animal feed production and domestic consumption. Specifically, our country spent 1.02 billion USD to import 1.61 million tons of soybeans and about 2.36 billion USD to import 7.75 million tons of corn. (See more)

- Coffee exports reach highest turnover in history

In the 2022/2023 crop year, Vietnam's coffee exports will earn 4.08 billion USD, up 3.4% compared to the previous crop year thanks to high prices. According to the Vietnam Coffee and Cocoa Association (VICOFA), this is the highest turnover in crop years to date (according to VTV).

- Prime Minister requests to find solutions to the problem of Vietnamese tourism

In 2023, Vietnam's tourism will record growth but still recover slowly compared to the period before the Covid-19 pandemic. Therefore, the Prime Minister requested drastic solutions to solve short-term and long-term problems to develop tourism quickly and sustainably. (See more)

- Proposing regulations to remove difficulties in bidding for drugs and medical equipment

The Vietnam Federation of Commerce and Industry proposed that the Ministry of Planning and Investment supplement regulations on winning bid prices from the results of national and local centralized procurement and price negotiations as the basis for payment of costs for private medical facilities (according to Tien Phong).

- Electricity price increases twice a year: EVN has more billions of USD, steel and cement cost increase

tanggiadien mbs1 1421.gif — Forecasting businesses that benefit/lose from increased electricity prices.

MBS Securities Company estimates that EVN will have an additional VND26,000 billion in 2024 from the 2-time electricity price increase this year. This will help EVN improve its solvency and cash flow, while electricity businesses are expected to benefit, but it will negatively impact many manufacturing businesses. Businesses in some manufacturing groups such as iron and steel, cement, and chemicals will have their cost of goods sold increased. (See more)

- An individual owes the bank more than 2,000 taels of gold for nearly 20 years

The bank is auctioning off the entire debt of a customer at Agribank Ho Chi Minh City Branch.
The book value of the provisional debt as of July 13 is 2,149.11 taels of SJC gold, equivalent to about VND14,313 billion (calculated according to the gold price on July 13 of VND6.66 million/tael). The starting price for the above debt is VND10,826 billion. Auction participants are required to deposit VND1,082 billion, equivalent to 10% of the starting auction price. (See more)

- More than 1,000 real estate businesses dissolved in 10 months

According to data from the General Statistics Office, in the first 10 months of this year, 1,067 real estate enterprises were dissolved nationwide, an increase of 9.5% over the same period. Real estate is the industry that witnessed the largest number of dissolved enterprises during this period (according to Tien Phong).

- After 7 auctions, the prime land in Hanoi's Old Quarter has been reduced by half.

More than a year since Agribank first announced the auction, the starting price of the land plot at 110 Hang Buom has dropped by VND29.9 billion, or nearly half. The current price is only VND303 million/m2. (See more)

Oil prices on the world market continued to climb from the first two sessions of the week. Oil prices rose due to increased demand and concerns about supply deficit.

The central exchange rate on November 15 decreased by 6 VND. The USD price at commercial banks today decreased sharply, losing the 24,500 VND/USD mark in the selling direction. The world USD price decreased deeply.

The stock market on November 15 recorded the VN-Index increasing by 12.77 points to 1,122.5 points. This is the highest closing price since October 17. Positive information about US inflation and the plunge of the DXY index last night made investors excited.

Gold prices today on the international market skyrocketed in the context of the USD falling quite rapidly. The price of SJC 9999 gold also increased by 200,000 VND/tael in both directions.

Bank interest rates today, November 15, recorded 2 banks bringing 6-month term interest rates below 5%. They are Tien Phong Bank (TPBank) and Dong A Bank (Dong A Bank). Since the beginning of November, the market has had 22 banks reduce deposit interest rates.

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