NEWS 01:

Cinnamon Exports Reached 177 Million USD in 8 Months

According to the Vietnam Pepper and Spices Association, in August 2024, Vietnam exported 8,186 tons of cinnamon, with a total export value of 22.9 million USD, a decrease of 17.1% compared to the previous month.

The largest export market was India, receiving 2,464 tons, down 23.4% compared to July. This was followed by the U.S. with 1,156 tons, an increase of 6.7%, and Indonesia with 810 tons, a sharp decline of 41.8%. As of the end of August 2024, Vietnam exported a total of 62,918 tons of cinnamon, with a total export value of 177 million USD. Compared to the same period last year, the export volume increased by 1.7%, but the total value dropped by 3.5%.

The leading exporting companies include Prosi Thang Long, which exported 8,833 tons, a decrease of 14.4% compared to the same period last year. Other key companies were Son Ha Spices with 4,186 tons, up 36.8%; Tuan Minh with 2,780 tons, up 59.9%; Olam Vietnam with 2,674 tons, up 20.1%; and Senspice Vietnam with 2,615 tons, down 30.2%.

Image: Residents of Dao Thinh commune bringing cinnamon to sell to the Vietnam Cinnamon Production and Export Joint Stock Company (Photo: Nguyen Hanh)

For more details, visit: Xuất khẩu quế thu về 177 triệu USD trong 8 tháng

 

 

NEWS 02:

Japanese Yen Exchange Rate Today, September 10, 2024: Yen Exchange Rates Fluctuate at Banks

At Vietcombank, the exchange rate for the Japanese Yen is 167.04 VND/JPY for buying and 176.80 VND/JPY for selling, reflecting a decrease of 0.68 VND for buying and 0.73 VND for selling. At Vietinbank, the Yen exchange rate has decreased by 0.19 VND for both buying and selling, now standing at 168.50 VND/JPY and 178.20 VND/JPY, respectively.

In the latest trading session in the Asian market, the USD/JPY exchange rate fell to its lowest level in a month. By late afternoon, the Japanese Yen had appreciated by about 0.8% against the USD, reaching 142.31 Yen per USD, marking a series of consecutive gains.

This rate is close to the peak of 141.7 Yen per USD established on August 5, a trading day when global financial markets were unsettled due to concerns about a potential U.S. economic slowdown and the Bank of Japan's (BOJ) hawkish stance, which prompted traders to withdraw from Yen carry trades.

According to Bloomberg data, option traders are forecasting an 85% probability that the Yen will surpass the August 5 peak in the coming week, and a 48% chance that the exchange rate will exceed 140 Yen per USD.

Image: Japanese Yen Exchange Rate Today, September 10, 2024: Yen Exchange Rates Fluctuate at Banks

For more details, visit: Tỷ giá Yen Nhật hôm nay 10/9/2024: Tỷ giá Yen Nhật tăng giảm trái chiều tại các ngân hàng