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The Star
09-07-2025
- Business
- The Star
Prices of fruits in Vietnam drop despite bumper harvest
Many fruits are currently sold at only VND20,000-30,000/kg at Xuan Khanh Market, Can Tho City. - HCM CITY: Prices of fruits such as lychees, durians and rambutans have dropped sharply across Vietnam due to low market demand. Nguyen Ngoc Nga, a vendor at Thi Nghe Market (HCM City), said although the lychee season was nearing its end, supplies remained abundant and prices hit their lowest levels in years. Last year, lychees were sold for VND60,000-70,000/kg, but now the price dropped to just only around VND25,000/kg. In Northern Vietnam, Tru Huu Commercial Service Cooperative in Bac Ninh Province, said that despite a bumper harvest, lychee's profits had dropped significantly. The basic-grade lychees at Luc Ngan gardens were selling for VND7,000-12,000/kg, while top-grade lychees fetched only VND15,000-30,000/kg. In HCM City, retail durian prices have fallen by 30-35 per cent year-on-year. Ri6 durians are selling for as low as VND40,000-65,000/kg, while Thai varieties range from VND65,000-80,000/kg, and the prices in the Mekong Delta are even lower. Other fruits in HCM City such as rambutans (VND15,000-25,000/kg), 034 avocados (VND20,000-25,000/kg) and king oranges (VND5,000-7,000/kg) are also seeing sharp declines, causing concern among farmers. The Vietnam Fruit and Vegetable Association said major fruits such as durians, lychees and rambutans had a good season, with lychee output estimated at over 300,000 tonnes. However, domestic demand was low and durian exports to China were not as good as expected, causing prices to decrease. The association also said that from May to July, many fruits hit peak harvest at the same time. China remained the key buyer, accounting for over 90 per cent of Vietnam's durian exports, but export value so far this year was only 30–35 per cent of last year. - Vietnam News/ANN
Egypt Independent
04-03-2025
- Automotive
- Egypt Independent
Egypt's car market hit by overpricing
Owing to weak purchasing power and increasing concerns about rising car prices, overpricing (selling a commodity for more than its market value) has returned to the market with certain brands reaching up to LE60,000 in additional costs. Supply and Demand Policy A member of the Automotive Division of the Chambers of Commerce, Alaa al-Sabaa, explained that balanced demand for cars will appear in the second half of the year. He noted that the scarce supply in some types of cars is what causes the selling price to be overinflated, in addition to the increase in demand. With the application of reservation lists at car manufacturer dealers, which are subject to market fluctuations and continuous price changes based on the dollar price, car dealers resort to raising prices to compensate for what they spend on customs to allow vehicles to enter the country. Assuming the currency value remains stable and the exchange rate does not change during the coming period, Sabaa expects the car market to witness a major breakthrough and a decline in car prices. Effects of rising car prices Car prices are subject to supply and demand, and in some cars the value of the added increase ranges between LE10,000-30,000. In light of the confusion caused by the suspension of import operations, agents of international companies determine the value of the increase based on the price of the US dollar against the Egyptian pound. Since June and July, the dollar has taken an upward curve that began with a jump to LE47 after the local currency was floated in March and lost about 60 percent of its value. As a result of inflated car prices, many citizens have turned to motorcycles as a means of transportation at an affordable price. Edited translation from Al-Masry Al-Youm
