Domestic rice prices increase and decrease in opposite directions; exported rice continues to decline

Rice prices today, October 30, in the Mekong Delta provinces increased slightly with rice. Rice prices increased and decreased in opposite directions. Vietnam's rice exports decreased sharply.

Rice prices today, October 30, in the Mekong Delta region increased slightly with rice. Domestic rice prices increased and decreased in opposite directions. Vietnam's rice export prices continued to decline.

Update from the Department of Agriculture and Rural Development of An Giang province said that today's rice price has been adjusted compared to yesterday, IR 50404 is priced at 6,800 - 7,000 VND/kg, an increase of 100 VND/kg; Dai Thom 8 rice is priced at 7,800 - 8,000 VND/kg, OM 5451 rice is priced at 7,200 - 7,500 VND/kg; OM 18 rice is priced at 7,200 - 7,500 VND/kg, OM 380 fluctuates at 7,000 - 7,200 VND/kg; Japanese rice is at 7,800 - 8,000 VND/kg and Nang Nhen rice (dry) is at 20,000 VND/kg.

Rice price today October 30, 2024: Domestic rice price increases and decreases in opposite directions; exported rice continues to decline

In the rice market, it is noted that in localities such as Soc Trang, An Giang, Dong Thap, transactions are quiet, warehouses buy slowly, small quantity arrives, and prices are stable.

Besides, the glutinous rice market has not adjusted compared to yesterday. Long An IR 4625 glutinous rice (dry) 9,600 - 9,800 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 raw IR 504 Summer-Autumn rice has increased to 10,550 - 10,700 VND/kg, an increase of 50 - 100 VND/kg. Meanwhile, the price of finished IR 504 rice has decreased to 12,550 - 12,650 VND/kg, a decrease of 50 VND/kg.

For by-products, the price of by-products of all kinds fluctuates between 6,200 - 9,600 VND/kg. Currently, the price of OM 5451 broken rice is at 9,400 - 9,600 VND/kg; the price of dry bran is at 6,200 - 6,400 VND/kg, an increase of 100-150 VND/kg compared to yesterday.

At retail markets, rice prices have not been adjusted for individual rice items. Currently, Nang Nhen rice has the highest listed price of VND28,000/kg. However, the price of regular rice continues to be fixed at around VND15,000 - 16,000/kg, fragrant rice at VND17,000 - 23,000/kg. Jasmine rice is VND17,000 - 18,000/kg; Nang Hoa rice is VND21,500/kg; regular rice fluctuates around VND15,000 - 16,000/kg; long-grain fragrant rice is VND20,000 - 22,000/kg; Huong Lai rice is VND23,000/kg; Taiwanese fragrant rice is VND21,000/kg; Soc regular rice is VND18,500/kg; Soc Thai rice is VND21,000/kg; Japanese rice price 22,000 VND/kg.

In the export market, Vietnam's rice export prices have been adjusted compared to yesterday. According to the Vietnam Food Association (VFA), 100% broken rice is at 427 USD/ton, down 5 USD; 5% standard rice is at 524 USD/ton, down 7 USD; 25% broken rice is at 497 USD/ton, down 6 USD.

Recently, the Vietnam Trade Office in the Philippines said that Vietnam's rice exports to the Philippines are still maintaining high growth momentum.

Vietnam's total rice export turnover to this market in the first 9 months of 2024 reached 1.98 billion USD, accounting for 42.86% of Vietnam's total export turnover to the Philippine market.

It is forecasted that in the last 3 months of 2024, the Philippines' rice import demand will continue to increase due to increased domestic consumption demand while the Philippines' year-end crop was damaged by natural disasters.

The Philippines' total rice imports in 2024 could reach 4 million tons, or even 4.5 million tons. The Philippines is Vietnam's leading rice export market.