The Ministry of Industry and Trade has issued Directive No. 01/CT-BCT to implement the Prime Minister's Dispatch No. 1437/CĐ-TTg, focusing on ensuring adequate fuel supply for production, business, and consumer needs. The Ministry requires close monitoring of the minimum fuel supply for 2024 by major fuel traders to prevent shortages or disruptions under any circumstances.

Data from the Vietnam Commodity Exchange (MXV) shows that at the end of the first trading day of 2024, selling pressure dominated the global commodity markets. The MXV-Index dropped 0.78% to 2,111 points, extending its decline into the third consecutive session.

Market analysts and some traders predict that off-season rice production from the world's two leading rice-exporting countries, India and Thailand, will decline in Q1 2024 due to drought conditions.

Data from the Vietnam Commodity Exchange (MXV) shows that during the last trading week of 2023 (December 25 - 31), raw material prices exhibited relatively mixed trends. Selling pressure dominated in three out of four commodity groups traded at MXV, causing the MXV-Index to decline by 0.9% to 2,127 points. The average daily trading value for the week was approximately 5 trillion VND.

The USDA's August report is relatively neutral for corn and wheat while noting a negative outlook for soybeans. Grain prices have adjusted due to favorable weather in the U.S. Midwest and lower demand for corn, soybeans, and wheat compared to the pace of tightening U.S. ending stocks.

The September soybean futures contract ended the session higher, approaching $15.25 per bushel, fluctuating between $14.83 and $15.37 per bushel.

In 2022, the U.S. Federal Reserve (FED) began a period of tightening monetary policy. In March 2022, the FED raised interest rates for the first time in the year, marking its first rate hike since 2018

Global production forecasts have been revised upward this month primarily due to better crop prospects from Russia, China, Australia, and Canada, offsetting reductions in India, the European Union (EU), and Argentina.

The "bull market" was dominant today. News about China preparing a $200 billion stimulus package attracted additional buying interest. Additionally, reports of China purchasing U.S. PNW corn, U.S. PNW white wheat, and U.S. sorghum from the Gulf supported demand. Although China did not purchase U.S. soybeans, higher crushing margins and increased hog numbers contributed to further buying interest.

Global Production: Decreased mainly due to smaller harvests in the EU, Ukraine, and Argentina. This was only partially offset by increased production in Russia and Canada.

At the 53rd meeting held online on April 3, the Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum Exporting Countries (OPEC) and its partners, known as OPEC+, decided to keep its crude oil production policy unchanged, even as crude oil prices reached their highest levels in five months.

According to the Vietnam Commodity Exchange (MXV), as of yesterday (April 2), buying pressure dominated the global raw material market, with 18 commodities increasing in price and 13 decreasing, supporting the MXV-Index's rise by 0.77% to 2,265 points, the highest in over six months. The coffee, metals, and energy sectors all recorded several commodities reaching peak prices in recent weeks.