Last week, Vietnam's 5% broken rice export price was trading at the highest in the region thanks to the creation of a rice industry that is relatively different from other countries.
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| Vietnam's 5% broken rice exports are trading at the highest level in the region. (Source: VGP) |
Both paddy and rice prices in the Mekong Delta region fluctuated upward last week.
Vietnam's 5% broken rice export price is currently trading at the highest in the region thanks to the creation of a rice industry that is relatively different from other countries.
According to the Vietnam Food Association, the highest price of regular rice in the field last week was 7,150 VND/kg, the average price was 6,893 VND/kg, an increase of 157 VND/kg.
The price of regular rice at the warehouse increased by an average of 117 VND/kg, at 8,458 VND/kg; the highest price was 8,850 VND/kg.
Prices of rice products also increased. The highest price of 5% broken rice was 13,500 VND/kg, the average price was 13,221 VND/kg, an increase of 271 VND/kg. The highest price of 15% broken rice was 13,000 VND/kg, the average price was 12,883 VND/kg, an increase of 150 VND/kg.
The highest price of 25% broken rice was 12,700 VND/kg, the average price was 12,467 VND/kg, an increase of 100 VND/kg. The price of grade 1 white rice increased the most with 690 VND/kg, the average price was 14,260 VND/kg. Grade 1 brown rice increased by 300 VND/kg, the average price was 11,600 VND/kg.
According to the update of the Department of Agriculture and Rural Development of An Giang, the price of some types of rice purchased by traders is: IR 50404 from 7,300-7,500 VND/kg, an increase of 500 VND/kg; OM 5451 rice is priced from 7,300-7,500 VND/kg; OM 380 is 7,000 VND/kg; Dai Thom 8 (fresh) and OM 18 (fresh) are from 8,200-8,400 VND/kg.
Regarding rice products in the retail market in An Giang, regular rice costs from 15,000 to 16,000 VND/kg; long-grain fragrant rice from 20,000 to 22,000 VND/kg; Jasmine rice from 17,000 to 18,000 VND/kg; common white rice 17,500 VND/kg, and Nang Hoa rice 21,500 VND/kg.
On the export side, traders in the Mekong Delta region said Vietnam's 5% broken rice was offered at $520-$525 a tonne, unchanged from a week ago.
A trader in An Giang province said prices were stable amid reduced supply.
According to the bidding results, the Indonesian National Logistics Agency (Bulog) will buy more than 80,000 tons of rice from Vietnam, expected to be delivered in November and December 2024.
Meanwhile, rice export prices from India fell for a third consecutive week to a 15-month low due to a depreciating rupee and rising supplies.
India's 5% broken parboiled variety was quoted at $440-$447 a tonne this week, its lowest since July 2023 and down from last week's $442-$449.
India’s 5% broken white rice was offered at $440-$450 a tonne. A Kolkata-based trader said the rupee has fallen in the past few days, pushing down export prices.
According to this trader, demand from African countries is strong as they can now buy rice at much lower prices than a month ago.
Last month, India abolished export duty on parboiled rice and removed the $490/tonne floor price for non-basmati white rice to boost exports.
Traders said Thailand's 5% broken rice was quoted at $490 a tonne, similar to last week's $485-$495, amid a strengthening dollar after the US presidential election.
In related news, Bangladesh has issued an international tender to purchase 50,000 tonnes of rice.
Floods in Bangladesh have reduced rice production by about 1.1 million tonnes, according to data from the Bangladesh Ministry of Agriculture.
In the US agricultural market, soybean futures on the Chicago Mercantile Exchange fell on November 8, after reaching a nearly one-month high in the previous session, thanks to the recovery of the vegetable oil market. Corn and wheat prices also fell on November 8.
However, all three grains rose on a weekly basis. Soybeans fell 0.6% to $10.1975 a bushel on Friday, after hitting $10.28 a bushel in the previous session.
Soybean prices have increased 2.6% since the beginning of the week. Meanwhile, corn prices decreased 0.1% in the session on November 8 to 4.27 USD/bushel and increased 3% on a weekly basis.
Wheat prices fell 0.1% to $5.7/bushel on November 8 and rose 0.5% last week.
The US Department of Agriculture (USDA) assessed that demand for US soybean and corn exports is currently solid. Meanwhile, improved weather in Argentina and top exporter Brazil has eased concerns about output.
Additionally, the USDA said US farmers may expand corn acreage and reduce soybean and wheat plantings next season.
Regarding the world coffee market, according to the latest data, world coffee prices fell simultaneously on the two exchanges ICE Futures Europe and ICE Futures US on November 9.
On the ICE Futures Europe exchange, the price of robusta coffee for November 2024 delivery decreased by 91 USD/ton to 4,395 USD/ton; for January 2025 delivery decreased by 90 USD/ton to 4,334 USD/ton.
On the ICE Futures US exchange, the price of Arabica coffee for December 2024 delivery decreased by 6.15 cents/lb, standing at 254.25 cents/lb; the price of March 2025 delivery decreased by 5.9 cents/lb to 253.85 cents/lb.
According to analysts, the decline in world coffee prices may be related to pressure from the harvest in Brazil, the world's largest coffee producer.
At the same time, factors such as fluctuations in the USD exchange rate and US economic policies also affect global coffee prices.
The decline in world coffee prices could be a signal that the market is entering a correction phase after a long period of price increases.
In the domestic market, coffee prices in the Central Highlands region rebounded compared to yesterday, bringing the average price to around 107,800 VND/kg.
Source: https://baoquocte.vn/biet-tao-dung-thuong-hieu-khac-biet-gao-viet-nam-dung-dau-khu-vuc-ve-gia-293280.html
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