Domestic stability, Vietnam's rice exports at highest level in Asia

Rice prices today, October 23, in the Mekong Delta region decreased with rice. In the export market, Vietnamese rice prices remained stable while those of Thailand and Pakistan decreased slightly.

Update from the Department of Agriculture and Rural Development of An Giang province said that today's rice price has not been adjusted compared to yesterday, IR 50404 is priced at 6,800 - 7,000 VND/kg; Dai Thom 8 rice is priced at 7,800 - 8,000 VND/kg, OM 5451 rice is priced at 7,200 - 7,400 VND/kg; OM 18 rice is priced at 7,500 - 7,800 VND/kg; OM 380 fluctuates at 7,200 - 7,300 VND/kg; Japanese rice is at 7,800 - 8,000 VND/kg and Nang Nhen rice (dry) is at 20,000 VND/kg.

Rice price today October 23, 2024: Domestic stable, Vietnam's rice export at the highest level in Asia

In localities such as Soc Trang and Dong Thap, transactions were slow, with few arrivals and few buyers. In An Giang, many warehouses were slow to buy, with few arrivals and prices slightly decreasing.

Besides, the glutinous rice market has not adjusted compared to yesterday. Long An IR 4625 glutinous rice (dry) 9,600 - 9,800 VND/kg is stable compared to yesterday. Long An 3-month glutinous rice (dry) 9,800 - 10,000 VND/kg is unchanged compared to yesterday.

In the rice market, rice prices have been adjusted compared to yesterday. Currently, the price of raw IR 504 Summer-Autumn rice has dropped to 10,500 - 10,700 VND/kg, down 50 VND/kg. Meanwhile, the price of finished IR 504 rice has dropped to 12,600 - 12,800 VND/kg, down 50 VND/kg.

For by-products, the prices of various by-products fluctuate between 5,950 - 9,600 VND/kg. Currently, the price of OM 5451 broken rice is at 9,500 - 9,600 VND/kg, stable compared to yesterday; the price of dry bran is at 5,900 - 6,050 VND/kg, unchanged compared to yesterday.

At retail markets, rice prices have been adjusted for individual rice products. Currently, Nang Nhen rice has the highest listed price of VND28,000/kg; the price of common white rice today has been adjusted up by VND500/kg, at VND17,500/kg. However, the price of regular rice continues to be fixed at VND15,000 - 17,000/kg, fragrant rice at VND17,000 - 23,000/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; Huong Lai rice is VND23,000/kg; Taiwanese fragrant rice is VND21,000/kg; Soc rice is usually 18,500 VND/kg; Thai Soc rice is 21,000 VND/kg; Japanese rice is 22,000 VND/kg.

In the export market, Vietnam's rice export prices remained unchanged compared to yesterday. According to the Vietnam Food Association (VFA), 100% broken rice was at $438/ton; 5% standard rice was at $534/ton; and 25% broken rice was at $506/ton.

According to VFA data, Vietnam's 5% broken rice export price is currently anchored at 534 USD/ton, the highest in the Asian market.

Meanwhile, Thailand's 5% broken rice reversed to fall by $7/ton after rising last week, down to $511/ton.

The same product from Pakistan also decreased by 5 USD/ton, down to only 476 USD/ton, the lowest level on the market.

Meanwhile, in India, the world's top supplier, 5% broken white rice was offered at $488 a tonne, steady from the previous session.

According to data from the General Department of Vietnam Customs, Indonesia was Vietnam's second largest rice export market in the first nine months of the year, with a volume of more than 1 million tons, worth 624.8 million USD, up 16.8% in volume and 35.1% in value over the same period last year.

This market accounts for 14.8% in volume and 14.4% in total rice export value of Vietnam. Rice export price to Indonesia increased by 15.6%, reaching an average of 605 USD/ton.