Paddy price increased slightly; rice price decreased by 50 VND/kg

Rice prices today, August 22, in the Mekong Delta region adjusted slightly upward for rice varieties. Rice prices decreased slightly by 50 VND/kg.

Recorded in localities in the Mekong Delta today, demand for rice purchase is slow. Transactions of all types of dry rice are slow, many people have stopped buying because the price of rice is too high, the price is on a downward trend.

Giá lúa gạo hôm nay 22/8/2024: Giá lúa tăng nhẹ ; giá gạo giảm 50 đồng/kg

Rice price today August 22, 2024: Rice price increased slightly; rice price decreased by 50 VND/kg

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 price fluctuates around 7,800 - 8,000 VND/kg; Dai Thom 8 rice is at 8,400 - 8,600 VND/kg, up 100 VND/kg; OM 5451 rice is at 8,200 - 8,400 VND/kg; OM 18 rice is at 8,500 - 8,700 VND/kg; OM 380 fluctuates from 7,800 - 8,000 VND/kg; Nhat rice is at 7,800 - 8,000 VND/kg and Nang Nhen rice (dry) is at 20,000 VND/kg.

In addition, the glutinous rice market recorded an adjustment compared to yesterday. IR 4625 glutinous rice (fresh) 7,500 - 7,650 VND/kg, down 50 - 100 VND/kg compared to yesterday. An Giang glutinous rice (fresh) 7,000 - 7,200 VND/kg, unchanged compared to yesterday.

The rice market in localities in the Mekong Delta today generally has low supply, prices slightly decreased, and warehouses are buying sparingly.

Regarding rice, rice prices have been adjusted compared to yesterday. Currently, IR 504 summer-autumn raw rice has dropped to 11,500 - 11,600 VND/kg, down 50 VND/kg; IR 504 finished rice has dropped to 13,550 - 13,650 VND/kg, down 50 VND/kg.

By-products today recorded no adjustment compared to yesterday. Currently, the price of OM 5451 broken rice remains at 9,400 - 9,600 VND/kg; the price of dry bran remains at 7,150 - 7,250 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; Huong 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.

In the export market, rice export prices remained unchanged after a downward adjustment session. According to the Vietnam Food Association, the export price of 5% broken rice today was stable at 585 USD/ton; 25% broken rice remained at 558 USD/ton; and 100% broken rice remained stable at 485 USD/ton.

Recently, the price of Vietnamese rice has been on a strong upward trend, surpassing the price of Thai and Pakistani rice. Specifically, at the end of last week, the export price of 5% broken rice from Vietnam was traded at 575 USD/ton, 14 USD/ton higher than the same type of Thai rice and 34 USD/ton higher than Pakistani rice.

Currently, the summer-autumn crop in the Mekong Delta is entering its final stage, and there is not much rice left in the fields. Due to the rainy weather, the quality of rice is not as good as in the winter-spring crop, making rice that meets export standards more expensive. According to rice traders, this is also the reason for the high export price of rice.

According to Tan Long Group Corporation, the harvest in the West is facing difficulties due to the impact of the weather, which has reduced the quality of rice. When milled, the rice is not white and the recovery rate after processing is also lower, causing many challenges for this summer-autumn crop.

Another important factor contributing to the increase in rice prices is the Philippines' reduction of import tax from 35% to 15%, encouraging businesses in this country to increase rice imports. However, with the summer-autumn crop coming to an end and the upcoming autumn-winter crop not being the main harvest season, the situation of supply not meeting demand is happening.

Vietnam’s rice export prices have now reached record highs in many international markets. In Brunei, rice prices reached $959 per ton, while in the US, it was $868 per ton. Other markets such as the Netherlands, Ukraine, Iraq, and Türkiye also recorded high prices for Vietnamese rice, making Vietnam the country with the highest rice prices among the world’s leading exporters. 2024 is marking an important turning point in Vietnam’s rice export industry, with rice export prices reaching record levels, and is expected to set a new record for rice export volume.