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Farmers in the southern provinces of Tien Giang, Long An, Binh Phuoc, and Dong Thap are selling their Ri6 durian for VND75,000-VND85,000 per kilogram ($3.19-$3.62), down from VND190,000 in earlier February. Lanh, a farmer in Tien Giang, said he sold seven tons of durian for VND75,000. "I sold quickly due to a fear of a steeper plunge," Lanh said. In Can Tho City, Hanh is selling the lower quality durian for VND45,000 per kilogram, down by half from last month. Prices are set to fall further as harvest season in Binh Phuoc and Dong Nai provinces approaches, she added. Van Hoa Investment and Development, which buys durian from farmers for export, is offering VND95,000 per kilogram for the highest quality and VND75,000 for the medium segment. The company buys 20-30 tons a day from suppliers. Traders say that the increase in supply as the harvest season approaches has pulled down durian prices. Furthermore, other fruits, such as rambutan and plums, will be harvested soon, which … [Read more...] about Durian prices plunge by half

The maximum airfare on four out of five flight distances will rise in the second or third quarter, according to a recent price report of the Ministry of Finance. The biggest increase will be 6.67% (to VND4 million or $170) for one-way tickets on flights of 1,280 kilometers (Hanoi to Phu Quoc Island) and longer. Flights between 1,000 and 1,280 kilometers will see their ticket cap price rise 6.25% to VND3.4 million. Flights of smaller distances will see their maximum price rise by between 2.27% and 3.58%. Flights under 500 kilometers will see no ceiling change. Their prices will remain at a maximum of VND1.7 million per one-way ticket. The cap price increase will likely bring Vietnam’s 2023 Consumer Price Index up by 0.07% points. Earlier this year, Vietnam Airlines and Bamboo Airways proposed increasing the cap ticket price to take into account rising in costs. The airfare price cap was last increased in 2015. By November last year, fuel costs had surged more than 80% … [Read more...] about Vietnam to raise air ticket price cap

Southern durian prices have sharply halved compared to last month. Durian farmers in Tien Giang Province Many farmers in Tien Giang, Long An, Binh Phuoc, and Dong Nai have seen the prices plummet to between VND75,000-85,000 per kilo, down by 15-20 percent compared to last week and by 50 percent against last month's prices. A farmer in Long An, Nguyen Trung, said that he has just sold eight tonnes of durian at between VND70,000-80,000 per kilo depending on the sizes. "I decided to sell them all, fearing that the prices may continue to fall," she said. Mai Ha, another farmer in Tien Giang Province said that she has also sold all the fruits from her garden amid falling prices. "I'm afraid that the prices will continue to fall as the season matures and supply will be high," Ha said. A woman buys durian from a trader in Long An Province According to Van Hoa Investment and Development Company, more export orders were still … [Read more...] about Durian prices sharply fall

A group of solar power ventures that did not make the 2021 feed-in tariff deadline remain idle and developers want fresh solutions Nearly 40 renewable power investors last week asked the prime minister to consider addressing pricing-related inadequacies in renewables development. The joint letter said that the impact of the pandemic and expiry of the country’s previous feed-in tariffs (FiTs) has resulted in 84 renewable power projects, with total capacity of some 4,600MW, falling behind schedule and failing to achieve commercial operation. Among these, 28 wind farms and six solar farms with the combined capacity of more than 2,000MW, which have cost an estimated $3.6 billion are eligible to connect to the national power grid, are still waiting for a suitable pricing mechanism. Six solar power ventures have been waiting for such a mechanism for over two years. The developers last week expressed concerns that they may go bankrupt as the government’s latest pricing band fix are … [Read more...] about Pricing structure not enough to clinch nation’s energy goals

Indonesian Muslims pray during the start of the holy month of Ramadan at the Baiturrahman Mosque in Banda Aceh, Aceh province, on May 5 (Photo: AFP/VNA) Jakarta (VNA) – Muslims in Indonesia began fasting for the Ramadan festive month on May 6. Minister of Religious Affairs Lukman Hakim Saifuddin said the ministry had received nine reports on sightings of the moon in 102 observation points across the country to decide the beginning day of the most holy month of the year for Muslims in Indonesia. This decision was also considered at a meeting with representatives from the Supreme Court, the Meteorology, Climatology and Geophysics Agency (BMKG), the National Institute of Aeronautics and Space (LAPAN), the Geospatial Information Agency (BIG), and experts from Islamic organisations, according to the Minister. On May 5, Tarawih prayer ceremony was observed in all mosques before the start of the fasting month. Ahead of the festive month, the Indonesian government has … [Read more...] about Muslim followers in Indonesia start Ramadan fasting month

Movements of raw sugar futures in the last five years. Source: tradingeconomics.com Businesses in the sugar industry will rebound, buoyed by higher sugar prices and anti-dumping measures on some sugar cane products originating from Thailand. In February, raw sugar futures hovered at the 6-year high of roughly US 22 cents a pound set on February 27. Specifically, February's average raw sugar price was US 20.23 cents a pound, compared to US 18.87 cents per pound in January and US 18.93 cents in December 2022. According to the Food and Agriculture Organisation of the United Nations, the average sugar price was US 18.5 cents per pound during the first ten months of 2022. The Rome-based agency forecast that by 2029, the average sugar price will reach US 21.3 cents but the fact is that the price exceeded the figure in January. In the international market, raw sugar futures tracked by tradingecnomics.com were traded at US 21.14 cents per pound on Thursday, continuing the rally … [Read more...] about Sugar industry to recover this year

Illustrative image. Source: baotainguyenmoitruong.vn EVN has received a document from the MoIT about an electricity price agreement with solar power and transitional wind power plants. The document states that, on January 7, Minister of Industry and Trade signed Decision No.21/QD-BCT establishing the price bracket for the generation of electricity by solar and transitional wind power plants. On January 9, the MoIT issued Document No.107/BCT-DTDL, urging EVN and its investors in solar energy and transitional wind plants to urgently coordinate to negotiate and cooperate on electricity generation prices to ensure that they do not exceed the MoIT's electricity generation price bracket. The MoIT also issued Document No.1094/BCT-DTDL on March 2, directing EVN on how to fulfil the agreement on electricity pricing outlined in the Electricity Law. Based on the aforementioned guidelines, the MoIT requests that EVN and its investors agree on electricity prices by March 31. Up to now, … [Read more...] about EVN must settle transitional renewable energy power tariffs before March 31: MoIT

Minister of Religious Affairs of Indonesia Yaqut Cholil Qoumas delivers his remarks at a press conference in Jakarta on March 22. (Photo: ANTARA) Jakarta (VNA) – The Ramadan fasting month 2023 in Indonesia and Malaysia started on March 23 based on the emergence of the new moon. In Indonesia, Minister of Religious Affairs Yaqut Cholil Qoumas announced the decision in a press conference following a meeting on March 22 attended by the Ministry of Religious Affairs, the House of Representatives Commission VIII overseeing religious affairs, the Indonesian Ulema Council (MUI), the Meteorology, Climatology and Geophysics Agency (BMKG), the Geospatial Information Agency, astronomy experts, and several Islamic organizations. This meant that hundreds of millions of Indonesian Muslims can perform the Tarawih prayers on March 22 evening, marking the beginning of the Ramadan month. After the regulations against the COVID-19 pandemic are lifted, there will not be any restrictions on … [Read more...] about Indonesian, Malaysian Muslims start Ramadan fast

Nguyen Van Thanh, general director of GSM (left), and Vu Hoang Yen, general director of Be Group, signed a cooperative agreement on March 21 in Ha Noi. — Photo coutersy of Vinfast Vingroup's Green-Smart-Mobility JSC (GSM) and Be Group JSC, a technology company, signed a cooperative agreement on March 21 to introduce electric cars and motorbikes to Vietnam. The agreement outlines that GSM will directly invest in Be Group to support its goal of becoming a multi-service consumer platform and the top technology transport service in Vietnam. GSM will also assist Be Group's drivers in converting petrol vehicles to electric vehicles (EVs) conveniently and easily. This new service aims to enhance the quality of service and optimise business efficiency for Be and its drivers. In the project's first phase, GSM will partner with local VPBank to offer exclusive preferential policies for Be's drivers to purchase or rent VinFast's electric cars or electric motorbikes at attractive prices. … [Read more...] about GSM works with Be to deploy electric car and motorbikes service

Land law adjustments aim to protect entities as well as the real estate market, photo Le Toan In a seminar to collect opinions from enterprises and experts regarding amendments to the Law on Land held last week in Ho Chi Minh City, Seck Yee Chung, a representative of the Vietnam Business Forum’s Trade and Investment Working Group, said that Article 35.d of the draft law provided that domestic companies only have the right to mortgages with their land and properties attached to the land at credit institutions licensed to operate in Vietnam. “This means that companies in Vietnam cannot mortgage their factory or land through foreign lenders, which creates great challenges for them to access competitive financing resources outside the country,” Chung said at the seminar, which was organised by the International Finance Corporation (IFC) and Ministry of Natural Resources and Environment (MoNRE). “Foreign lenders will look for security assets of Vietnamese companies to secure their … [Read more...] about Land law points further scrutinised