Meps european steel prices

Customers shop at Xom Moi Market in HCM City's Go Vap District. The price rises have been blamed on high transportation and feed costs. — VNA/VNS Photo Fruit, vegetable and meat prices increased sharply in HCM City last week amid the prolonged heavy rain in the south and rising gasoline prices. The price of pork has increased by VND15,000-30,000 per kilogramme since early this month to VND120,000-180,000 (US$5.1-7.7), and that of chicken by VND10,000-15,000 to around VND60,000. A kilogramme of pork rib at Ong Dia Market in Tan Binh District costs VND180,000, while bacon is VND160,000 and cutlets, VND140,000. The price of piglets is up 20 per cent from two months ago. The rises have been blamed on high transportation and feed costs. Egg prices have also increased sharply, and they retail at VND4,000-4,300 per chicken egg and VND4,300 in the case of duck eggs. But farmers, however, are still suffering losses because of the high prices of packaging, fuel and other inputs. … [Read more...] about Meat, vegetable prices shoot up in HCM City

Illustrative image (Photo: VNA) Hanoi – Vietnamese airlines are suffering losses amounting to hundreds of billions of VND each month due to a surge in fuel prices, according to director of the Civil Aviation Authority of Vietnam (CAAV) Dinh Viet Thang. At a conference of the Transport Ministry reviewing its work in the first half of the year on June 28, Thang said as fuel costs account for 40-50% of operation costs, revenues increases are not sufficient to compensate for high fuel prices. He said domestic aviation transport has fully recovered with higher growth than in the pre-pandemic period. However, Vietnamese carriers have not fully escaped difficulties due to the slow recovery of the international market. It was reported at the conference that in the first half of the year, the number of international air passengers has increased monthly, from 103,500 in January to 127,000 in February, 224,600 in March, 445,700 in April, 650,000 in May and an estimated 826,000 in June. … [Read more...] about Domestic air transport sees fast recovery, airlines suffer loss due to rising fuel prices

"If we do not operate regularly, we will lose our slots at bus stations, but the more we operate, the more we lose because of surging costs," Do Van Bang, CEO of Sao Viet’s parent company, Minh Thanh Phat, said. Sao Viet has reducing the number of trips to cut costs. Bang said the only way to break even is to increase fares by 15-20 percent, but with competition being intense, the time is not right for it. But the company would not be able to absorb the losses for long, he added. The company is one of many to lose due to the 39 percent rise in fuel prices since the beginning of this year. Nguyen Manh Hung, CEO of transport firm International Logistics, said fuel accounts for 40 percent of costs, and so the increases in their prices has affected the company. It is not easy to negotiate price hikes with customers, he said. "We are trying to cut all other expenses to survive the fuel price surge." Half of all fishing vessels in Vietnam have stopped going out to sea … [Read more...] about Industries hit hard by rising fuel prices

Livestock farmers feeding their pigs. — Photo tuoitrethudo.com.vn Livestock feed prices have increased five consecutive times since early 2022 and the six is to come in July. Koji Inoue, general director of the Kyodo Sojitz Animal Feed LTD has informed his agents about imminent price adjustments. Specifically, the company planned to raise prices of its feed for piglets by VND400 per kilo and feed for other livestock by VND300 per kilo from July 1. It underscored volatile input costs as the main reason behind the decision. CJ Vina Agri LTD followed suit with identical adjustments. CJ Vina Agri said it had to raise feed prices to offset higher input costs since input materials have been fluctuating widely price-wise. Other feed producers also got in on the act by adjusting up their product prices by around VND300-400 per kilo. An agent in Tra Vinh Province estimated that feed for piglets would reach VND510,000-530,000 per bag, feed for pigs VND375,000-415,000 per bag and … [Read more...] about Feed prices to increase in July

NA Chairman Vuong Dinh Hue (L) and his Hungarian counterpart László Kövér at the press meeting on June 27. (Photo: VNA) Budapest (VNA) – Vietnamese National Assembly (NA) Chairman Vuong Dinh Hue's official visit to Hungary has attracted attention from the media in Eastern Europe. In Hungary, Magyar Nemzet (Hungarian Nation) newspaper ran an article saying the two countries’ traditional friendship has recorded great strides, especially since the visit to Vietnam by Prime Minister Orban Viktor and a trip to the European nation by General Secretary of the Communist Party of Vietnam Nguyen Phu Trong. Hue's visit from June 25-28 would create a stepping stone for the two countries’ comprehensive partnership to enter a new chapter in the time ahead, particularly after Vietnam and the European Union (EU) completed the ratification of the EU-Vietnam Investment Protection Agreement (EVIPA) and a free trade agreement (EVFTA), according to Magyar Nemzet. In its writing, Magyar … [Read more...] about NA leader’s Hungary visit grabs headlines on Eastern European media

VASEP proposed practical solutions to decrease logistics cost in the near future Chairman of Vietnam Tourism Association Vu The Binh stated that to promote the recovery of this industry in the near future, there must be new interesting tour packages to attract international tourists, along with favorable conditions to welcome them to Vietnam. He proposed a working session between the tourism and aviation industries to introduce the most reasonable prices for these new packages. Deputy General Secretary of Vietnam Association of Seafood Exporters and Producers Nguyen Hoai Nam shared that the high fuel prices have created pressure on many businesses, and many fishermen have stopped their work. He suggested some solutions to reduce logistics cost, including digital transformation among member businesses, which was wholeheartedly welcomed by Minister Dung with the promise to support any needy enterprises in order to increase their competitiveness. Vice Chairwoman of Vietnam … [Read more...] about Vietnam collecting feasible solutions to boost production, trading, investment

Inside a wood production line of Truong Thanh Furniture Corporation. — Photo truongthanh.com As wood export turnover is rebounding with rising demand in the domestic market, the revenues of wood enterprises are expected to advance. However, skyrocketing prices of raw materials and logistics costs will weigh on these companies’ gross profit margin in 2022. VNDIRECT Securities Corporation (VNDIRECT) estimated that the total revenue of listed wood and wood products companies in the first quarter (Q1) of 2022 rose by 10.2 per cent year-on-year thanks to the recovery of wood producers in the south. After the social distancing order was lifted, most wood companies in the southern region resumed operations at 90 per cent capacity in the first quarter of 2022, while in the second half of 2021 it was only 60-65 per cent. The export wood enterprises achieved better business results in Q1 of 2022. Specifically, Truong Thanh Furniture Corporation (HoSE: TTF) and Phu Tai JSC (HoSE: PTB) … [Read more...] about Rising costs cast doubt on wood companies growth prospects

The benchmark started the morning trading session not so smoothly when the demand still hesitated, while the holders were ready to push sell orders when they saw that stocks reached their expected price levels. The cautiousness of both sides made the VN-Index go down slightly in the ATO session. The market continuously shook in the morning trading session when both the buyers and sellers failed to show their superior on the electric board. The market only improved in the afternoon trading session when buy orders above the reference price unexpectedly poured into the group of banking stocks. The green color from the most important stock group in the market was the driving force, helping change the color of the remaining large-cap stocks in the VN30 basket. At the end of the trading session, the VN-Index gained by 15.28 points, or 1.27 percent, to 1,218.1 points. Of the index, 326 stocks emerged, 53 remained unchanged, and 136 sank. Notably, the list of stocks that climbed today … [Read more...] about VN-Index strengthens by more than 15 points, backed by banking stocks

Tan Phu Plastic Company produces safe products to serve the local market. The "Zero Covid" policy of China means many Vietnamese producers lack input materials. (Photo courtesy of the firm) The worst sufferers were the electronics, wood, textiles, and footwear industries. According to the Ministry of Industry and Trade (MoIT), China was an important market for the export and import activities of Vietnam as it provides the majority of input materials for Vietnam's production, especially electronic components, machinery parts, fabrics and chemicals. MoIT said from 50 to 55 percent of raw materials and accessories for the textile, garment, and footwear industries originated from China. The country was currently implementing the "Zero Covid" strategy, which forced many factories there temporarily stop production to fight the pandemic. The import-export activities in the neighboring country were affected a lot by the shortage of containers at ports. Phan Thi Thanh Xuan, Vice … [Read more...] about Local enterprises lack materials due to China’s ‘Zero Covid’ policy

The section linking Mai Son and national highway 45 under the North-South highway's eastern part According to the deputy PM, it is a key task set in the eighth National Party Congress Resolution to finalise the construction of 23 component projects by 2025 to smoothen travel in the North-South highway’s eastern part that runs over 2,000 km from Huu Nghi to Ca Mau province. As per schedule, it is a must to complete the construction of a 361.5km highway by late 2022, as well as an additional 652km by March 2024, and 729km extra by 2025. Thanh noted that to facilitate the implementation, the National Assembly and the government have greenlit the application of several specific mechanisms on contractor appointment and mineral exploitation serving the production of common building materials and several works during the project preparation stage, among others. Due to the huge work volume and limited timeline, relevant ministries, agencies, and localities need to embrace … [Read more...] about Fresh measures to facilitate construction of North-South highway’s eastern part