The international market recorded a sharp decrease in Vietnamese rice exports, remaining below 400 USD/ton. In contrast to the export price of rice, many housewives went to the market to buy rice at a price... as if the price of rice had never decreased!
The export price of Vietnamese rice has decreased, but many housewives go to the market to buy rice at a price unchanged from the peak price in 2024 - Photo: THAO THUONG
On February 18, Tuoi Tre Online recorded the domestic rice price market at traditional markets and supermarkets in Ho Chi Minh City. At the markets, most rice prices... still did not decrease.
Specifically, at Tan Dinh market (District 1, Ho Chi Minh City), blooming rice is priced at 16,000 - 17,000 VND/kg, American fragrant rice is 19,000 VND/kg, Nang Hoa rice fluctuates at 23,000 - 24,000 VND/kg, Tam Thai rice is 20,000 VND/kg; the highest is 38,000 VND/kg of ST25 rice.
This is the price that Ms. My - owner of a rice dealer at Tan Dinh market - confirmed is almost unchanged compared to last year's peak price.
Ms. My explained: "The salary of the counter staff has increased this year, the cost of stalls, warehouses, everything has increased and the money is real. Many sources do not allow debt extension like previous years, rice has decreased everywhere but at the market it is still the same because the surrounding costs have not decreased."
Similarly, at the supermarket on Nguyen Dinh Chieu Street (District 3), many types of rice are sold at prices ranging from 17,000 VND to nearly 40,000 VND/kg. ST25 fragrant rice is priced at 189,000 - 230 VND/5kg bag.
Ms. Nguyen Thi Thanh (living in District 3, Ho Chi Minh City) said she just bought a 5kg bag of ST25 rice for 228,000 VND. "I stopped by the supermarket to buy rice, holding 300,000 VND in my hand because the price is familiar to me as well as other housewives, because this price is the same as the price 3-4 months ago," Ms. Thanh affirmed.
Speaking with Tuoi Tre Online , Mr. Phan Van Co - marketing director of Vrice Company Limited - admitted that Vietnamese rice exports are decreasing sharply due to competition from countries in the region, but rice prices in markets and supermarkets in big cities have not decreased, mainly due to intermediaries controlling prices.
"Vietnamese rice is consumed strongly in big cities, mainly fragrant rice, delicious rice, high-quality rice. Transportation from the growing area to the city costs a lot, plus the cost of warehouse space increases, these are two basic reasons why rice cannot be reduced to consumers in big cities.
In addition, urban rice traders do not want to sell at a discount, because they want to maintain prices to preserve profits," Mr. Co analyzed.
Similarly, according to rice businesses, related costs such as transportation, storage, and labor have all increased; loss during rice preservation is high, making it difficult for rice prices to decrease quickly on the market.
On the supermarket side, they mainly focus on the mid- and high-end rice segment, which fluctuates little, while the supply contracts between supermarkets and distributors are long-term, so retail prices are less affected when raw rice prices decrease.
Vietnamese rice price "falls" to lowest among 4 exporting countries
According to the Vietnam Food Association (VFA), currently, each kilogram of regular rice in the field costs an average of VND5,400, while fragrant rice costs VND7,000 - 8,500. In the warehouse, the price of fragrant rice has dropped to VND8,000 - 9,500 per kilogram, 40 - 50% lower than last year.
In the export market, Vietnam's rice export price is maintained at below 400 USD/ton.
Updated data from VFA, on February 18, the price of 5% standard Vietnamese rice was at 395 USD/ton; 25% broken rice was at 372 USD/ton; 100% broken rice was at 310 USD/ton.
Currently, Vietnam's rice exports are the lowest among the top four exporting countries, including India, Thailand and Pakistan.
Source: https://tuoitre.vn/tim-ly-do-gia-gao-xuat-khau-giam-nhung-gia-trong-nuoc-van-cao-20250218155822955.htm
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