Kien Giang responds to fluctuations in the rice market

EXPORTED RICE PRICES DECREASE

On the morning of March 13, along some canals from Giong Rieng district to Tan Hiep district, purchasing boats loaded with rice were bustling. In the fields, farmers harvested rice and gathered it at the dock, ready to weigh it for traders.

Mr. Pham Van Muoi - a member of Tu Hat Agricultural Cooperative, Thanh Hoa Commune (Giong Rieng) harvested 40 hectares of rice fields cultivating Jasmine 85 variety. “I sold to traders at 6,500 VND/kg, and just took the deposit 3 days ago. The price of rice has decreased compared to last year, but thanks to the rice yield of 1.3 tons/hectare, I made a profit. With the current price of rice, if you cultivate on your family's land, you will earn about 3 million VND/hectare, but anyone who rents land will lose money,” said Mr. Muoi.

Mr. Pham Van Muoi - member of Tu Hat Agricultural Cooperative harvests winter-spring rice 2024-2025.

From the beginning of March 2025 to now, the price of high-quality rice in some districts in Kien Giang has fluctuated from 6,400-6,600 VND/kg, IR50404 rice from 5,400-5,600 VND/kg. Mr. Do Duy Nguyen - Chairman of the Board of Directors, Director of Kenh 7A Agricultural Cooperative, Thanh Dong A Commune (Tan Hiep) said: "Most of the cooperative members cultivate Dai Thom 8 variety, and have just finished harvesting 640 hectares. After Tet, most farmers have taken deposits to sell rice at 6,250-6,400 VND/kg, down 1,500-2,000 VND/kg compared to the same period in 2024".

According to the Department of Agriculture and Environment of Kien Giang province, as of March 13, the province had harvested more than 231,540 hectares, reaching 64.4% of the cultivated area, with an estimated output of 1.6 million tons. The remaining winter-spring rice area is about 127,777 hectares, with an estimated output of more than 1 million tons, and is expected to be completed in early April 2025.

According to the Department of Industry and Trade of Kien Giang province, in the first two months of 2025, the province's rice export output reached 31,287 tons, an increase of 11.39% over the same period in 2024; the value reached 20.35 million USD, an increase of 5.09% over the same period; the average price reached 650.43 USD/ton, a decrease of 38.83 USD/ton over the same period. Deputy Director of the Department of Industry and Trade of Kien Giang Nguyen Duy Linh Thao said: "Currently, the export price of rice has decreased sharply due to the abundant supply in the market in the province and the world. India has lifted the ban on rice exports and is expected to export 22 million tons in 2025, thereby creating great competitive pressure on price and market share for Vietnamese rice".

ENSURING SUPPLY AND DEMAND BALANCE

Mr. Dang Van Lanh - General Director of Kien Giang Trading Joint Stock Company (KTC) said: "The Government's policy is very timely to support farmers. However, the purchase and temporary storage of rice by enterprises must be based on both export and domestic sales plans to ensure efficiency."

Traders buy rice from Tu Hat Agricultural Cooperative, March 8.

In the first two months of 2025, Kien Giang Trading Joint Stock Company purchased 25,246 tons of rice of all kinds; exported 11,700 tons, worth   price of 6.6 million USD, average export price of rice is 564 USD/ton. The company exports rice to major markets such as Africa, Philippines, China, Singapore... Mr. Dang Van Lanh proposed that competent management agencies continue to implement policies to support businesses in accessing capital, supporting purchasing, and creating favorable conditions for rice export.

To keep rice prices stable, according to Deputy Director of Kien Giang Department of Industry and Trade Nguyen Duy Linh Thao, it is necessary to strengthen inspection and examination to prevent unfair competition in rice trading, and call on businesses to join hands to maintain rice prices. The Department of Industry and Trade continues to implement the instructions of the Ministry of Industry and Trade on strengthening market information and trade promotion programs of ministries and branches to find outlets for rice products. In addition, it continues to closely monitor the rice export situation in the province to find solutions to remove difficulties for businesses.

RECALCULATE THE CROPS RIGHTLY

Referring to solutions for sustainable development of the province's rice industry in the future, Director of the Department of Agriculture and Environment of Kien Giang province Le Huu Toan said that the province will first promote the implementation of the sustainable development project of 1 million hectares of high-quality, low-emission rice cultivation associated with green growth in the Mekong Delta by 2030, with 3 components including support for production infrastructure, technology and project management.

“The province recommends that the Ministry of Agriculture and Environment recalculate the rice production season in the year in a more reasonable manner, following the shift in the time of the Mekong Delta provinces to limit the overlap in the rice harvest period, reducing the consumption pressure of enterprises. Enterprises should calculate and arrange to build rice processing and primary processing facilities in raw material areas to reduce logistics costs and increase the efficiency of consumption linkages,” said Le Huu Toan, Director of the Department of Agriculture and Environment of Kien Giang province.

Packing rice for export at the Giong Rieng Export Rice Processing Enterprise of Kien Giang Trading Joint Stock Company, Thanh Hung Commune (Giong Rieng).

Long-term solution, Director of the Department of Agriculture and Environment of Kien Giang province Le Huu Toan said that it is necessary to complete the infrastructure serving production and transport infrastructure serving the transportation of goods in the province and the routes connecting with major commercial centers of the Mekong Delta and Ho Chi Minh City.

Enterprises place orders with farmer organizations to produce according to market standards, with specific output for each production season. Enterprises need to be transparent in sharing profits with rice growers as well as sharing risks caused by natural disasters, epidemics and market price fluctuations. At the same time, transfer advanced farming processes, reduce input costs, produce environmentally friendly products, increase value, and promote the building of the province's rice brand.

Prime Minister Pham Minh Chinh signed and issued Official Dispatch No. 21/CD-TTg, dated March 4, 2025, on management to ensure balance between supply and demand of rice and paddy in the face of developments in the world and domestic markets. In addition to the tasks of organizing production, the Prime Minister requested the Chairmen of the People's Committees of provinces and cities to direct propaganda and mobilize farmers to continue producing the summer-autumn rice crop according to plan to ensure stable output. The Prime Minister requested associations, corporations and rice exporting enterprises to proactively seek markets, especially traditional customers; at the same time, actively purchase and temporarily store rice for farmers.

Article and photos: DANG LINH

Source: https://www.baokiengiang.vn/kinh-te/kien-giang-ung-pho-voi-bien-dong-thi-truong-lua-gao-25018.html