Trade

Sugar sector continues to face severe glutThe Saigon Times Daily A worker checks sugar in stock at a sugar plant. According to VSSA, sugar inventories surged to 670,000 tons, as of the end of last month - PHOTO: TTXVN HCMC - As of the end of last month, sugar inventories surged to 670,000 tons, given the rising volume of smuggled sugar in the domestic market, Lao Dong newspaper reported, citing data from the Vietnam Sugarcane and Sugar Association (VSSA). The mounting sugar stockpile was also attributed to the unsold amount being carried forward from the previous year’s crop. Market management agencies have detected and seized 100 tons of smuggled sugar from an enterprise in Quang Nam Province. VSSA Chairman Pham Quoc Doanh said large volumes of smuggled sugar have hindered the operations of domestic sugar firms. Domestic sugar producers have reduced their sugar prices to the low prices offered for smuggled sugar to help ease the glut. One foreign-invested plant has … [Read more...] about Sugar sector continues to face severe glut

(VEN) - The National Office of Intellectual Property has granted geographical indication certificates to green-skin grapefruit and green Xiem coconut, in order to promote the value of these unique specialties of the Mekong Delta province of Ben Tre. Green Xiem coconut is favored for its good quality, sweetness, nutritional values and health benefits The US is the largest export market of Ben Tre’s green Xiem coconut, accounting for about 70 percent of total local output. The fruit’s quality, sweetness, nutritional values and health benefits have also carved out a certain market niche in Canada, Australia, Singapore, Japan and China. Nonetheless, since it was devoid of a brand name until now, the competitiveness of green Xiem coconut was limited compared to products of other countries, especially Thailand, with foreign markets increasingly demanding proof of origin and trademarks. According to the provincial Department of Industry and Trade, the GI … [Read more...] about Green Xiem coconut has its own brand

HCMC sees litchi consumption riseBy Vu Yen Litchis are introduced at Co.op mart Huynh Tan Phat in District 7, HCMC - PHOTO: NL HCMC – Litchis from Bac Giang and Hai Duong provinces have seen high consumption in HCMC since June 15, according to representatives of supermarkets and wholesale markets. Nguyen Anh Duc, deputy general director of Saigon Co.op, noted that the retail chain operator has been selling VietGap litchis from the two provinces since June 14, adding that it has run sales programs, including offering discounts and promotions, which have led to a surge in litchi consumption. “Saigon Co.op has sold 300 tons of litchis lately, with the southern region seeing strong consumption, accounting for two-thirds of the total,” Duc claimed, stressing that the total consumption is expected to outstrip the initial target of 600 tons. At Saigon Co.op’s supermarkets, litchi prices range from VND9,900 per kilogram, if promoted, to some VND34,000 per … [Read more...] about HCMC sees litchi consumption rise

(VEN) - The domestic animal husbandry sector, concerned about the low-cost of imported products flooding the domestic market, is turning to closed value chains models to increase competitiveness.  Self-sufficient farming models enable businesses to reduce production costs and create competitive products Increased imports General Department of Vietnam Customs data show that Vietnam imported 24,570 tonnes of meat worth US$38.9 million in March 2018, a rise of 94.1 percent in volume and 67.3 percent in value compared with February. Imported pork products are sold at about VND39,000 per kg; buffalo meat and beef at VND105,000 per kg; poultry at VND23,000 per kg. Meanwhile, domestically produced pork products are sold at VND80,000-90,000 per kg, double the price of imported pork. Most restaurants and hotels choose imported meat over domestic products not only due to the major difference in price but also because domestic meat is yet to convince them in terms of … [Read more...] about Domestic firms seek to take bite out of imported meat

Vietnam imported 5.7 million tons of steel in Jan-May: MoITThe Saigon Times Daily Steel ingots are seen at a storehouse. Vietnam imported 5.7 million tons of steel in Jan-May - PHOTO: VIETNAMPLUS HCMC – Vietnam imported some 1.4 million tons of steel in May, taking the total in the first five months of the year to some 5.7 million tons, valued at over US$4 billion, news website Vietnamplus stated, citing a Ministry of Industry and Trade report. The volume increased a mere 1.1% over the same period last year. According to the Vietnam Steel Association (VSA), its members produced nearly five million tons of raw steel and sold some 5.2 million tons of the product during the period. Meanwhile, nearly 9.7 million tons of finished steel products were manufactured, up 24% year-on-year. VSA members sold some 6.7 million tons of steel in January-May, growing 35.2% over the year-ago period, including 1.6 million tons shipped abroad, surging 47.7% versus the same period last … [Read more...] about Vietnam imported 5.7 million tons of steel in Jan-May: MoIT