Rice price decreased by 100-300 VND/kg, paddy price continued to move sideways

Rice prices today, September 30, in the Mekong Delta region are the same as paddy prices. Rice prices decreased by 100-300 VND/kg. The market was quiet in the morning of the first day of the week.

Update from the Department of Agriculture and Rural Development of An Giang province said that today's rice price has not been adjusted compared to yesterday, IR 50404 is priced at 7,100 - 7,300 VND/kg; Dai Thom 8 rice is priced at 8,000 - 8,200 VND/kg, OM 5451 rice is priced at 7,400 - 7,700 VND/kg; OM 18 rice is priced at 7,500 - 7,800 VND/kg; OM 380 fluctuates at 7,300 VND/kg; Japanese rice is at 7,800 - 8,000 VND/kg and Nang Nhen rice (dry) is at 20,000 VND/kg.

In localities such as Soc Trang and Dong Thap, transactions were slow and there were few buyers. In An Giang, there was a lot of bad rice, warehouses bought slowly, and prices decreased slightly. In Dong Thap, warehouses bought at lower prices, transactions were quiet and there were few buyers.

Besides, the glutinous rice market has not adjusted compared to yesterday. Long An IR 4625 glutinous rice (dry) 9,500 - 9,700 VND/kg is stable compared to yesterday. Long An 3-month glutinous rice (dry) 9,800 - 10,000 VND/kg is unchanged compared to yesterday.

In the rice market, rice prices have been adjusted compared to yesterday. Currently, the price of IR 504 Summer-Autumn raw rice has dropped to 10,200 - 10,300 VND/kg, down 250 - 300 VND/kg. Meanwhile, the price of IR 504 finished rice has dropped to 12,600 - 12,800 VND/kg, down 100 - 200 VND/kg.

Rice price today September 30: Rice price decreased by 100-300 VND/kg, rice price continues to move sideways

For by-products, the price of by-products of all kinds fluctuates between 5,950 - 10,000 VND/kg. Currently, the price of OM 5451 broken rice has increased to 9,600 - 10,000 VND/kg, an increase of 300 VND/kg; the price of dry bran has increased to 5,950 - 6,100 VND/kg, an increase of 50 VND/kg.

At retail markets, rice prices have not been adjusted for individual rice products. Currently, Nang Nhen rice has the highest listed price of VND28,000/kg; Jasmine rice is VND18,000 - 20,000/kg; Nang Hoa rice is VND20,000/kg; regular rice fluctuates around VND15,000 - 16,000/kg; long-grain fragrant rice is VND20,000 - 21,000/kg; Jasmine rice is VND18,000/kg; Taiwanese fragrant rice is VND21,000/kg; common white rice is VND17,000/kg; regular Soc rice is VND18,000 - 18,500/kg; Thai Soc rice is VND21,000/kg; Japanese rice is VND22,000/kg.

In the export market, Vietnam's rice export prices remained unchanged compared to yesterday. According to the Vietnam Food Association (VFA), 100% broken rice was at $454/ton; 5% standard rice was at $562/ton; and 25% broken rice was at $532/ton.

The Directorate General of Foreign Trade – Ministry of Commerce and Industry of India has signed a decision to lift the ban on exporting non-basmati white rice from September 28. The condition is that the floor export price of this item is 490 USD/ton.

Previously, India had gradually eased its rice export restrictions, such as reducing export tax rates on parboiled rice, brown rice, and raw rice from 20% to 10%, effective from September 27. The country also relaxed and then removed the floor price policy for basmati rice to facilitate access to lucrative markets such as Europe, the Middle East, and the United States for this premium product.

Before restricting its participation in the rice export market, India was the world's number one rice exporter, accounting for 40% of the market share. Therefore, its regulatory policies are expected to affect the global rice trade.

According to statistics, in the first 8 months of this year, Vietnamese enterprises exported 6.06 million tons of rice, earning 3.792 billion USD - an increase of 4.72% in volume and 20.54% in value thanks to increased export prices. Thus, Vietnam does not have to worry about inventory from now until the end of the year because there is only the autumn-winter crop with low output and low productivity forecast due to the flood situation.

By mid-September 2024, Vietnam's total rice export volume will reach nearly 6.5 million tons, worth over 4 billion USD. It is forecasted that our country will export over 7 million tons of rice for the whole year.