On January 18, people continued to go to rice mills and rice export companies to buy rice for storage. Many people even used trucks to transport rice to remote areas to sell to people.
Not only sold at rice mills and rice export companies, but now many companies also have trucks to transport rice to remote areas in Tien Giang province to sell to people - Photo: MAU TRUONG
10 tons of rice sold within 1 hour
On the same morning, at an empty lot near the People's Committee of Tan Phu Commune, Cai Lay Town, Tien Giang Province, dozens of people were surrounding a truck full of rice to buy cheap rice. There were two types of rice for sale, Sa Mo rice and Thom rice, priced at VND600,000 and VND750,000, respectively, per 50kg bag.
"A few days ago, I bought it at the factory for even cheaper, but this price is still about 200,000 VND cheaper than before. Today, I bought another bag of Sa Mo to eat gradually," said Mr. Nguyen Van Dung, a resident of Cai Lay town.
In just over an hour, the truck carrying more than 10 tons of rice was sold out. Most people stopped by to buy from 50kg to 100kg to store for later consumption, because the price is much cheaper than the price about a week ago. The reason why rice prices are falling and mills and companies have to sell to the public - according to traders - is because exports are facing difficulties and there are no new orders.
Explaining more clearly the reason for the decrease in rice prices, Mr. Luu Van Phi - Director of Tien Giang Department of Industry and Trade - said that the largest rice import markets from Vietnam are currently: Philippines, Indonesia... have stopped importing.
Meanwhile, according to Mr. Phi, through a survey of rice exporters, India has now lifted its rice export restrictions, and the abundant rice supply is creating downward pressure on market prices. The high rice reserves allow India to increase exports without affecting domestic supply.
Vietnam's rice exports affected
According to some experts and businesses in the rice export industry, regarding the demand for rice imports in Vietnam's major markets, the Philippines, the largest import market, has temporarily suspended rice imports. In addition, the cooperation plan between the Philippines and countries such as Pakistan and India also puts pressure on Vietnam's rice export activities.
As for Indonesia, the authorities recently announced that they will not import some agricultural products, including rice, in 2025, thanks to abundant domestic reserves and production, enough to meet demand. Instead, Indonesia will buy rice from domestic farmers to stockpile.
These are all major export markets of Vietnam, so restricting rice imports will significantly affect the export activities of domestic units. In addition, at the beginning of the year, rice exporting enterprises have not had new orders, so rice exports have decreased.
Many people take advantage of the low price of rice to buy and stockpile. In the photo: People buy 100kg of rice to stockpile and eat gradually - Photo: MAU TRUONG
On January 18, many warehouses, mills and companies continued to retail rice at a price about 200,000 VND cheaper than usual per 50kg bag - Photo: MAU TRUONG
Source: https://tuoitre.vn/10-tan-gao-ban-trong-vong-1-tieng-nganh-cong-thuong-ly-giai-20250118120508359.htm
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