Agricultural market: Export rice prices continue to increase slightly

Rice packaging line for export in An Giang province. (Photo: Hong Dat/VNA)

Rice prices in the Mekong Delta continued to show a positive trend last week, although the fluctuations were not large. Vietnam's rice export prices continued to increase slightly.

According to the update of the Department of Agriculture and Environment of An Giang, the prices of some types of rice purchased by traders are: IR 50404 from 5,500-5,700 VND/kg, an increase of 100 VND/kg; OM 5451 from 5,800-6,000 VND/kg, an increase of 200 VND/kg; Dai Thom 8 (fresh) from 6,400-6,500 VND/kg and OM 18 (fresh) fluctuates from 6,400-6,600 VND/kg...

Regarding rice products in the retail market in An Giang, regular rice costs from 15,000-16,000 VND/kg; long-grain fragrant rice from 20,000-22,000 VND/kg; Jasmine rice from 18,000-20,000 VND/kg; common white rice 17,000 VND/kg, Nang Hoa rice 21,500 VND/kg; Huong Lai rice 22,000 VND/kg; Taiwanese fragrant rice 21,000 VND/kg; Soc rice usually fluctuates at 18,000 VND/kg; Soc Thai rice costs 21,000 VND/kg; Japanese rice costs 22,000 VND/kg...

IR 504 raw rice is at 8,100-8,200 VND/kg, IR 504 finished rice is from 9,500-9,700 VND/kg; OM 380 raw rice is from 7,750-7,850 VND/kg; OM 380 finished rice fluctuates at 8,800-9,000 VND/kg.

For by-products, the price of by-products of all kinds fluctuates between 6,700-10,000 VND/kg. The price of fragrant rice bran is at 7,100-7,300 VND/kg; the price of dry bran is at 9,000-10,000 VND/kg.

On the export side, Vietnam’s 5% broken rice was offered at $397 a tonne, down from $392 a tonne last week, according to the Vietnam Food Association. However, a trader in Ho Chi Minh City said activity remained sluggish due to weak demand.

Meanwhile, Thai rice export prices fell to their lowest in more than two years due to weak demand and increased supply. Indian rice export prices held steady near a 21-month low.

Thailand's benchmark 5% broken rice prices fell to $405 a tonne, the lowest since late October 2022 and hitting the bottom of last week's reported price range of $405-$408 a tonne.

A trader in Bangkok said demand was very weak and the situation could continue for the next two to three months. He said the situation was worrying and regular customers were only buying on demand while the market was oversupplied.

India’s 5% broken parboiled variety was quoted at $403-$410 a tonne, unchanged from last week. A Kolkata-based trader said Pakistan and Vietnam were actively selling white rice and this was even affecting parboiled prices.

Earlier this month, India allowed the resumption of exports of 100% broken rice, which had been banned from September 2022.

Meanwhile, domestic rice prices in Bangladesh remain high despite efforts to increase imports and shore up reserves, putting pressure on consumers.

Although the Bangladesh government is buying rice from Vietnam, Myanmar and Pakistan through government-to-government deals and international tenders, private traders have largely stayed out, fearing falling prices in the domestic market.

Regarding the US agricultural market, in the session of March 21, in the US market, corn and soybean prices decreased slightly while wheat prices remained almost unchanged as concerns about the US economic outlook caused traders to sell off before the weekend.

Wheat on the Chicago Board of Trade (CBOT) closed up just 1 cent at $5.5825 a bushel. Soybeans fell 3.25 cents to $10.0975 a bushel and corn fell 4.75 cents to $4.6425 a bushel (1 bushel of wheat/soybeans = 27.2 kg; 1 bushel of corn = 25.4 kg).

There is a lot of economic uncertainty in the market right now, said Karl Setzer, a partner at agricultural consultancy Consus Ag Consulting. He said futures traders are worried that there might be unexpected news over the weekend that could affect them, so they are selling their commodities to hedge against risk.

March 31 is when the U.S. Department of Agriculture (USDA) releases its grain stocks and plantings report, which will include estimates of farmers’ planting plans for 2025.

Other issues being watched include tariff disputes between the US and trading partners, as well as talks to end the conflict in Ukraine.

The dollar index rose against the euro on March 21. The rising dollar is putting pressure on US grain prices, as a stronger greenback makes US exports more expensive and therefore less competitive in the global market.

The International Grains Council (IGC) forecasts global corn production to increase in the 2025-2026 season, with larger output in the United States, Brazil, Argentina and Ukraine.

China's soybean imports from the US in the first two months of 2025 increased by 84.1% compared to the same period in 2024, but price issues and the trade impasse with the US are expected to boost purchases from Brazil in the coming months.

Specialty coffee from Aeroco Coffee farm (Dak Lak) is available in markets in Europe, Japan, the United States, Canada, and China. (Photo: Tuan Anh/VNA)

Regarding the world coffee market, on the London Stock Exchange, the price of robusta coffee contracts for delivery in May 2025 closed the weekend trading session at 5,515 USD/ton, up 0.33% (18 USD/ton) compared to the previous trading session; the price of robusta coffee contracts for delivery in July 2025 also increased 0.4% (22 USD/ton), to 5,504 USD/ton.

On the New York Stock Exchange, the price of Arabica coffee for delivery in May 2025 reversed and decreased slightly by 0.48% (1.9 US cents/pound), down to 390.15 US cents/pound; the price of Arabica coffee futures contract for delivery in July 2025 decreased slightly by 0.01% (0.05 US cents/pound), reaching 385.3 US cents/pound (1 pound = 0.4535 kg).

The rising US dollar has put pressure on most commodities, including coffee.

However, robusta coffee prices rose on concerns about the crop in Vietnam, after the Dak Lak Meteorological Department announced that Vietnam's main coffee-producing region in the Central Highlands is expected to see hotter weather and less rainfall from March 21 to 31. Vietnam is currently the world's largest producer and exporter of robusta.

In the domestic market, coffee prices on March 22 in the Central Highlands region were traded at 132,900-134,000 VND/kg, up 400-500 VND/kg compared to the previous day.

Specifically, after adjusting up 500 VND/kg, coffee prices in Dak Nong province were purchased at the highest level of 134,000 VND/kg.

In Dak Lak and Gia Lai provinces, coffee prices increased by VND400/kg to VND133,900/kg. In Lam Dong province, coffee prices today were purchased at VND132,900/kg, an increase of VND400/kg./.

According to Vietnam+

Source: https://baoangiang.com.vn/kinh-te/tieu-dung-thi-truong/thi-truong-nong-san-gia-gao-xuat-khau-tiep-tuc-tang-nhe-a417511.html