The ceiling prices of E5 should be no higher than VND 18,340 per litre, and those of diesel 0.05S and kerosene should not be higher than VND 15,716 per litre and VND 14,560 per litre, respectively. Meanwhile, the two ministries also decided to maintain the price stabilisation fund for E5 bio-fuel at VND 669 per litre, while the use of the fund for diesel is at VND 177 per litre. The average global price of petrol products during the last 15 days leading up to March 23 was at US$ 73.253 per barrel for RON 92 and US$ 77.066 for diesel. The cost of ethanol E100, which is used to produce E5 petrol, has gone up by almost VND 1,200 per litre compared to one year ago. The ministries of Industry and Trade and Finance review the fuel prices every 15 days in order to adjust the prices in accordance with fluctuations on the world market. … [Read more...] about Petro prices remain stable in latest review
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Indonesia strives to stabilise domestic rice prices
Earlier, Bulog planned to distribute 400,000 tonnes of subsidised rice in March in an effort to stabilise rice prices.Besides, an additional 150,000 tonnes of rice will be brought to the market this month in stead of next month as originally scheduled.Workers unload Vietnamese rice at Tenau Port in Kupang, East Nusa Tenggara (Source:http://www.thejakartapost.com)Darmin said the move was crucial because the harvest season would reach its peak in April, when rice prices are expected to increase.In January, the Indonesian Government decided to import 500,000 tonnes of rice due to increasing prices in the market. By doing so, it aimed to stabilise prices and provide Bulog with sufficient stock of the commodity.However, Bulog procurement director Andrianto Wahyu Adi said later that the agency was only able to import 346,000 tonnes of rice, equivalent to almost 70 percent of the planned amount, due to time constraints.Darmin stressed the need to do everything to push rice prices down prior … [Read more...] about Indonesia strives to stabilise domestic rice prices
Carbon prices too low to protect SE Asian forests from rubber expansion: report
The price of carbon credits must rise drastically if they are to helpprotect Southeast Asia's tropical forests against rubber plantation expansion, according to researchers. Individuals, companies and countries purchase carbon credits to offset their greenhouse gas emissions. Putting a cost on carbon emissions provides an incentive to do business more sustainably, and a disincentive to engage in environmentally damaging activities - like clearing forests. But researchers found that credits bought and sold on international markets would need to rise from $5-$13 per tonne ofcarbon dioxide to $30-$51 per tonne if they are to safeguard Southeast Asian forests from rubber. At current prices, carbon credits cannot compete with the profits to be made from felling forests and developing rubberplantations, according to the report published this month in the journal Nature Communications. "We looked at rubber as an economic driver of deforestation," said Eleanor Warren-Thomas, the lead … [Read more...] about Carbon prices too low to protect SE Asian forests from rubber expansion: report
Hanoi seeking ways to save low-priced daikon radishes
Hanoi authorities on March 16 held a meeting to seek measures to help farmers boost sales of daikon radishes which are facing incredibly low prices. Vu Van Ky, head of Dong Cao Co-operative in Trang Viet Commune, Me Linh District, said that the locality is home to 80 hectares of radishes. Among those, 20 hectares are ready to harvest with 1,500 tonnes which need to be consumed in the next 10-15 days. After Tet Holiday, radish prices have dropped sharply due to the slow sales After Tet Holiday, radish prices have dropped sharply due to the slow sales to around VND1,500-2,000 (6.5-8.6 US cents) per kilo. Hoang Thi Sang in Dong Cao Village said that it costs roughly VND3 million (USD136.3) for every 360 square metres of radish. The price drop has caused big losses for local farmers which are estimated at VND2.5 million (USD113.6) for the same area. Lots of farmers in Dong Cao Village have to pull out the radishes in order to plant other vegetables. The radishes have been … [Read more...] about Hanoi seeking ways to save low-priced daikon radishes
Hanoi farmers in distress as kohlrabi prices crash
Scores of farmers in a district outside Hanoi are suffering great losses as the prices of kohlrabi have plummeted. There are more than 200 hectares of kohlrabi farms in Tien Duong Commune in Hanoi’s outer district of Dong Anh. This kohlrabi hub supplies around 10,000 metric tons of the produce every year to the capital and various surrounding provinces. However, in the latest crop, traders have been forcing farmers to sell the produce at a meager VND500 apiece, compared to VND2,000 and VND3,000 in previous seasons. (US$1 = VND22,500) Nguyen Thi Lien harvests kohlrabies on a farm outside Hanoi. Photo: Tuoi Tre Such a price will only bring in losses for farmers, given the estimated production cost to have one kohlrabi of around VND1,000. Due to the rock bottom prices, many farmers have resorted to grinding the vegetables for use as fertilizer or cattle feed. Some other farmers even do not bother to harvest the kohlrabi, letting weeds grow rampant on their farms. Tien Duong … [Read more...] about Hanoi farmers in distress as kohlrabi prices crash