Trading was quiet, and rice prices fell slightly.

Today, October 9th, rice prices in the Mekong Delta region remained stable, retail rice prices saw a slight increase, and the export rice market showed a downward trend.

Observations in various localities show that rice trading is slow, and rice prices remain stable. In Kien Giang , rice trading is brisk, with many traders inquiring about purchases. In Hau Giang, autumn-winter rice trading is stable, the market is quiet, and the harvested rice is scarce.

According to an update from the Department of Agriculture and Rural Development of An Giang province, rice prices today remain unchanged compared to yesterday. Specifically: IR 50404 is priced at 6,800 - 7,000 VND/kg; Dai Thom 8 rice at 7,800 - 8,000 VND/kg; OM 5451 rice at 7,200 - 7,400 VND/kg; OM 18 rice at 7,500 - 7,800 VND/kg; OM 380 rice fluctuating between 7,200 - 7,300 VND/kg; Nhat rice at 7,800 - 8,000 VND/kg; and Nang Nhen (dried) rice at 20,000 VND/kg.

Additionally, the glutinous rice market saw a slight upward adjustment. Long An IR 4625 glutinous rice (dry) is priced at 9,600 - 9,700 VND/kg, an increase of 100 VND/kg, remaining stable compared to yesterday. Long An 3-month glutinous rice (dry) is priced at 9,800 - 10,000 VND/kg, unchanged compared to yesterday.

Rice prices today, October 9, 2024: The market is quiet, and rice prices at the market have decreased slightly.

Observations in localities such as Dong Thap and Soc Trang show that supplies are low, warehouses and markets are slow to buy, and prices have decreased slightly.

On the rice market, on October 9, 2024, rice prices recorded a slight decrease compared to yesterday. Currently, the price of IR 504 summer-autumn raw rice has fallen to 10,500 - 10,600 VND/kg, a decrease of 50 - 100 VND/kg. Meanwhile, finished IR 504 rice is at 12,600 - 12,800 VND/kg, a decrease of 100 VND/kg.

Regarding by-products, the prices of various by-products range from 6,000 to 9,600 VND/kg. Currently, the price of OM 5451 broken rice is at 9,500 - 9,600 VND/kg; the price of dry rice bran is at 6,000 - 6,100 VND/kg, an increase of 50 VND/kg.

At retail markets, rice prices remained stable. Currently, Nang Nhen rice is listed at the highest price of 28,000 VND/kg; Jasmine rice at 18,000 - 20,000 VND/kg; Nang Hoa rice at 21,500 VND/kg; regular white rice fluctuates around 15,000 - 16,000 VND/kg; long-grain Thai fragrant rice at 20,000 - 22,000 VND/kg; Huong Lai rice at 22,000 VND/kg, down 100 VND/kg; Taiwanese fragrant rice at 20,000 VND/kg, down 100 VND/kg; common white rice at 17,500 VND/kg; regular Soc rice at 18,500 VND/kg; Soc Thai rice at 21,000 VND/kg; and Japanese rice at 22,000 VND/kg.

On the export market, Vietnamese rice export prices remained unchanged compared to yesterday. According to the Vietnam Food Association (VFA), 100% broken rice was priced at US$440/ton; standard 5% broken rice at US$538/ton; and 25% broken rice at US$510/ton.

Overall, the domestic rice market is sluggish and stagnant, retail rice prices have decreased slightly, and export rice prices remain stable.

According to the latest forecast from the Food and Agriculture Organization (FAO), rice production in 2024/25 is expected to increase compared to the September 2024 forecast, mainly due to improved production prospects in India overshadowing the decline in many other countries, particularly Myanmar.

India has officially lifted its export ban on regular white rice, excluding basmati rice.

This decision has led to a sudden increase in the supply of rice to the international market. Our country is one of the countries that has benefited from this ban over the past year and will now have to compete more intensely, especially in large markets such as Africa and Southeast Asia.

The Indian government has set a floor price of $490 per ton for non-basmati white rice exports and reduced the export tax on white rice to 0%, amid rising stockpiles in India and farmers preparing for the new harvest. This move is expected to boost global supply and ease price pressures, following record high rice prices in Asia earlier this year.

Overall, the domestic rice market is sluggish, retail rice prices have decreased slightly, and export rice prices are showing a stable trend.