In An Giang, according to the update of the Department of Agriculture and Rural Development, some types of rice have increased in price compared to last week such as: Dai Thom 8 from 7,400 - 7,600 VND/kg, an increase of 300 VND/kg; OM 18 from 7,500 - 7,700 VND/kg, an increase of 400 VND/kg; OM 5451 from 7,000 - 7,200 VND/kg, an increase of 100 VND/kg... Some types remain stable such as: Japanese rice from 7,800 - 8,000 VND/kg, IR 50404 from 6,900 - 7,000 VND/kg...
Regarding rice products in the retail market in An Giang, regular rice costs from 15,000 - 16,000 VND/kg; long-grain Thai fragrant rice from 20,000 - 21,000 VND/kg; Jasmine rice from 18,000 - 20,000 VND/kg; common white rice 17,000 VND/kg, Nang Hoa rice 20,000 VND/kg...
From July 15 to August 31, An Giang province planted the 2024 Autumn-Winter rice crop. Up to now, 14 enterprises have registered to link up to consume 46,300 hectares of rice for farmers, accounting for 29.09% of the planted area.
Currently, An Giang is in the rainy season, with complicated floods. Localities are also urgently harvesting the Summer-Autumn rice crop. The An Giang agricultural sector recommends that localities and people proactively prepare for the Autumn-Winter crop production, complying with the sowing schedule and pest control measures...
According to the Ministry of Agriculture and Rural Development, in the first 7 months, the whole country has planted 6.25 million hectares, up 0.2% over the same period last year. The harvested rice area is 3.82 million hectares, up 1.3%; the average yield is 65.6 quintals/ha, up 0.5 quintals/ha. The output on the harvested area is 25 million tons, up 2%.
In particular, the Autumn-Winter rice crop in the Mekong Delta provinces has been planted on 306,700 hectares, an increase of 11.7% over the same period last year.
The Ministry of Agriculture and Rural Development also said that the value of rice exports in the first 7 months reached 3.27 billion USD, up 25.1% with an output of 5.18 million tons, up 5.8% over the same period last year. The average rice export price reached 632 USD/ton, up 18.2%.
Vietnam's 5% broken rice was offered at $560 a tonne on August 1, compared with $550-$560 a week earlier, traders said last week.
A trader in Ho Chi Minh City said supply is currently low but the quality of rice is quite good, so prices have increased slightly.
In India, the world's top rice exporter's export prices rose to their highest since mid-June 2024 last week. India's 5% broken parboiled rice prices were quoted at $543-$551 per tonne this week, down from $540-$547 per tonne last week.
India's rice exports have slowed significantly as export taxes have reduced the country's price advantage over rival suppliers, according to Himanshu Agarwal, CEO of India's leading rice exporter Satyam Balajee.
India may lower the minimum export price of basmati rice and replace a 20% duty on parboiled rice with a flat export tax as its rice stocks rise to a record high, government sources said last month.
Thailand’s benchmark 5% broken rice prices were quoted at $570-$575 a tonne on Aug. 1, unchanged from a week earlier. Prices may have fluctuated slightly after Indonesia announced the tender, a Bangkok-based trader said, adding that there was no supply problem at the moment.
Traders will have to wait for the next few weeks to see if India continues to ban exports. On the supply side, there are no concerns at the moment.
In the US agricultural market, corn and soybean futures on the Chicago Mercantile Exchange hovered near four-year lows on August 2 and were on track to fall all week, as forecasts of cold and rainy weather in the US corn growing region improved supply prospects.
Wheat futures were also near their lowest since 2020, but were headed for gains throughout the week, as traders assessed the impact on production from adverse weather conditions in Europe and China.
Soybean futures fell 0.1 percent to $10.16 a bushel and were down 3 percent for the week, after falling to a four-year low of $10.13 a bushel on Aug. 1.
Meanwhile, corn prices rose 0.2% to $3.99 a bushel, but fell 2.6% from the close last week, after falling to a four-year low of $3.95 a bushel in the August 1 session.
Wheat was steady at $5.32 a bushel and up 1.6% for the week. It was still near a four-year low of $5.14 a bushel hit on July 29 (a bushel of wheat/soybeans = 27.2 kg; a bushel of corn = 25.4 kg).
Traders say U.S. farmers are starting to sell 2023 corn and soybeans as the prospect of higher prices fades and they need to clear storage for next season. Meanwhile, storms and forecasts for more rain could halt the French wheat harvest again.
Chinese authorities have urged local authorities to minimise crop damage and ensure grain output after heavy rains and floods hit wheat-growing areas in the country.
Regarding the world coffee market, coffee prices on the London and New York exchanges on August 3 (Vietnam time) increased again.
Robusta coffee prices on the London floor for September 2024 delivery increased slightly by 2 USD to 4,227 USD/ton and for November 2024 delivery increased by 5 USD to 4,088 USD/ton.
On the New York floor, the price of Arabica coffee for September 2024 delivery increased by 3.25 cents to 230.5 cents/lb and for December 2024 delivery increased by 3.15 cents to 229.55 cents/lb (1 lb = 0.4535 kg).
Domestically, in Lam Dong province, coffee prices in the three districts of Di Linh, Bao Loc and Lam Ha are all at 122,700 VND/kg. In Dak Lak, the purchasing price in Cu M'gar district is at 123,200 VND/kg, and in Ea H'leo and Buon Ho districts is at 123,100 VND/kg.
Source: https://doanhnghiepvn.vn/kinh-te/gia-xuat-khau-gao-tang-hon-18/20240804025230894
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