Rice prices today, June 25, in the Mekong Delta region, rice prices remained stable, finished rice prices were 150-200 VND/kg and raw rice prices increased by 50 VND/kg. Rice market transactions were slow, prices decreased slightly.
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| Rice price today June 25, 2024: Rice price increased by 150 - 200 VND/kg, rice export decreased |
Recorded at rice warehouses in Sa Dec (Dong Thap), prices decreased, consumption was weak, transactions were slow. Localities such as Long An and Hau Giang today had slow transaction demand, little supply, and warehouses bought evenly.
Accordingly, rice prices today increased slightly. Specifically, the price of IR 504 raw rice increased by 50 VND/kg to 10,900 - 11,000 VND/kg; IR 504 finished rice increased by 150 - 200 VND/kg to 12,900 - 13,000 VND/kg.
At retail markets, rice prices have not been adjusted. Currently, Nang Nhen rice has the highest listed price of VND30,000/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 VND20,000/kg; Taiwanese fragrant rice is VND21,000/kg; common white rice is VND17,000/kg; regular Soc rice is VND18,500/kg; Thai Soc rice is VND20,000/kg; Japanese rice is VND22,000/kg.
For by-products today, there is no adjustment compared to yesterday. Currently, the price of dry bran is at 6,950 - 7,050 VND/kg. Accordingly, the price of IR 504 panels has no adjustment compared to yesterday at 9,500 - 9,600 VND/kg.
In the rice market, the price offered tends to be higher, recorded in Hau Giang, rice transactions are steady, prices are stable. In Long An, there is little rain, fragrant rice prices increase slightly. In Kien Giang, rice prices are stagnant, few people buy.
Specifically, according to the update of the Department of Agriculture and Rural Development of An Giang province, Dai Thom 8 rice fluctuates around 7,200 - 7,400 VND/kg; OM 18 rice is at 7,200 - 7,400 VND/kg; IR 504 is at 7,000 - 7,200 VND/kg; OM 5451 is at 6,900 - 7,000 VND/kg; Nang Hoa 9 rice fluctuates around 7,600 - 7,700 VND/kg; OM 380 rice is at 6,800 - 7,000 VND/kg.
Accordingly, the sticky rice market recorded an adjustment compared to yesterday. The price of 3-month sticky rice (dry) remained unchanged compared to the price of 8,800 VND/kg to 9,000 VND/kg. In addition, the selling price of Long An sticky rice (dry) was 9,000 - 9,200 VND/kg, down 500 VND/kg. On the other hand, 3-month sticky rice (fresh) and Long An sticky rice (fresh) continued to be stable today.
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In the export market, Vietnam's rice export prices have been adjusted. According to the Vietnam Food Association (VFA), 100% broken rice is stable at 468 USD/ton, down 5 USD; 5% broken rice is currently at 564 USD/ton, down 5 USD; 25% broken rice is stable at 542 USD/ton, down 5 USD.
The Philippines has officially decided to reduce rice import tax from 35% to 15%, expected to be applied from early August 2024 to 2028.
According to the Vietnam Trade Office in the Philippines, Vietnam remains the Philippines’ largest rice export partner. From January 1 to May 23, Vietnam exported 1.44 million tons of rice to the Philippines, accounting for 72.9% of the Philippines’ total rice imports.
The effective date of Decree No. 62 is 30 days from the date of publication, and for rice import tax, the effective date is 15 days from the date of publication. Thus, the expected date of application of the new rice import tax rate of the Philippines is early August 2024.
Over the years, Vietnam has always been the largest rice exporting partner, accounting for over 80% of the total rice imported into the Philippine market. There are some opinions that the Philippines' reduction of rice import tax will create more favorable conditions and increase opportunities for Vietnamese rice in the Philippine market.
The latest data provided by the Bureau of Plants (Ministry of Agriculture of the Philippines) shows that from January 1 to May 23, the total volume of rice imported by the Philippines increased by 20.3% compared to the first 5 months of 2023, reaching 1.97 million tons, much higher than the import level of 1.64 million tons in the first 5 months of 2023. Since the beginning of the year, the Bureau of Plants has issued 4,066 rice import clearance licenses to importing enterprises.
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