Trading market is quiet, rice prices decrease slightly

Rice prices today, October 9, in the Mekong Delta region remained the same as paddy prices, retail rice prices increased slightly and the rice export market tended to decline.

In localities, new rice transactions are slow, rice prices are stable. In Kien Giang, rice transactions are quite good, traders ask to buy a lot. In Hau Giang, autumn-winter rice transactions are stable, the market is quiet, and the harvested rice is low.

Update from the Department of Agriculture and Rural Development of An Giang province said that today's rice price recorded no adjustment compared to yesterday. Specifically: IR 50404 price is at 6,800 - 7,000 VND/kg; Dai Thom 8 rice is at 7,800 - 8,000 VND/kg, OM 5451 rice is at 7,200 - 7,400 VND/kg; OM 18 rice is at 7,500 - 7,800 VND/kg; OM 380 fluctuates at 7,200 - 7,300 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 has slightly increased. Long An IR 4625 glutinous rice (dry) is 9,600 - 9,700 VND/kg, up 100 VND/kg, stable compared to yesterday. Long An 3-month glutinous rice (dry) is 9,800 - 10,000 VND/kg, unchanged compared to yesterday.

Rice price today October 9, 2024: Market trading is quiet, rice price at the market slightly decreased

In localities such as Dong Thap and Soc Trang, supply is low, market warehouses buy slowly, prices decrease slightly.

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

For by-products, the price of by-products of all kinds fluctuates between 6,000 - 9,600 VND/kg. Currently, the price of OM 5451 broken rice is at 9,500 - 9,600 VND/kg; the price of dry bran is at 6,000 - 6,100 VND/kg, an increase of 50 VND/kg.

At retail markets, rice prices remain stable. 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 VND21,500/kg; regular rice fluctuates around VND15,000 - 16,000/kg; long-grain fragrant rice is VND20,000 - 22,000/kg; Jasmine rice is VND22,000/kg, down VND100/kg; Taiwanese fragrant rice is VND20,000/kg, down VND100/kg; common white rice is VND17,500/kg; regular Soc rice is VND18,500/kg; Thai Soc rice is VND21,000/kg; Japanese rice is VND22,000/kg.

In the export market, Vietnam's rice export prices recorded no adjustment compared to yesterday. According to the Vietnam Food Association (VFA), 100% broken rice was at 440 USD/ton; 5% standard rice was at 538 USD/ton; and 25% broken rice was at 510 USD/ton.

In general, the domestic rice market is quiet and flat, retail rice prices have slightly decreased and export rice prices are stable.

According to the latest forecast of the Food and Agriculture Organization (FAO), rice production in 2024/25 is higher than the forecast in September 2024 mainly because the improved production outlook in India overshadows the recession in many other countries, especially in Myanmar.

India officially lifts export ban on regular white rice, not basmati.

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

The Indian government has set a floor export price of $490 per tonne for non-basmati white rice and reduced export duty on white rice to zero, as inventories in India rise and farmers prepare to harvest their new crop. The move is expected to boost global supplies and ease price pressure after Asian rice prices hit record highs earlier this year.

In general, the domestic rice market is quiet, retail rice prices have decreased slightly and export rice prices appear to be stable.