Ensuring rice supply for the market

Recently, the rapid increase in rice prices has directly affected the consumption, production and business activities of people and enterprises in the province.

Currently, at some agents and rice trading establishments in the province, rice prices have increased by 3-5 thousand VND/kg compared to August 2023, equivalent to an increase of 3-5 million VND/ton. Specifically, Hai Hau jasmine rice is 26.5 thousand VND/kg, fragrant rice is 25.8 thousand VND/kg, Dien Bien jasmine rice is 27 thousand VND/kg...

Customers choose to buy rice at Intimex supermarket (Yen My)

Xuan Hung rice milling and processing facility, Yen My town (Yen My) specializes in importing rice for milling and selling to the market. Mr. Nguyen Xuan Hung, owner of the rice milling and processing facility, shared: Normally, the rice market remains stable, if there is an increase, the increase only fluctuates 300-400 VND/kg; never before has the price of rice increased so suddenly as it is now, the increase in rice prices pulls up the price of paddy. In the fourth quarter of 2023, the facility had to compensate for losses on many orders because the consumption contract was signed when the price of paddy and rice was still low, but from October 2023 until now, it has increased sharply and remained high.

Ms. Pham Thi Quyen, owner of Toan Quyen rice dealer, Nhan Hoa ward (My Hao town) said: When rice prices increase, dealers are also forced to adjust the selling price to consumers. At the end of 2023, all types of rice increased in price, some even changed their prices continuously by day. Currently, rice prices remain high, some types of rice have decreased by 200 - 300 VND/kg. It is expected that in the coming time, the rice market will continue to fluctuate due to the influence of the domestic and world markets.

The increase in rice prices has directly affected the input costs of establishments producing and processing rice products. Ms. Nguyen Thi Hien, owner of a banh te production facility in Phung Cong commune (Van Giang), said: My family uses fragrant eight-grain rice, sticky rice 64 and Xi rice to make banh te crust. On average, my family produces 2-5 thousand banh te pieces/day, using about 1.2 tons of various types of rice/month. Previously, rice had an average price of about 14.5 million VND/ton, but from July 2023 until now, rice prices have increased and remained high, 18.5 million VND/ton, so my family had to adjust the retail price of banh te from 3,000 VND to 4,000 VND/piece to ensure production maintenance.

According to the assessment of the industry, in July 2023, rice prices in the province increased slightly and from October 2023 to now, rice prices have increased sharply and remained high, with an average increase of 20 - 30%. However, the rice supply is still guaranteed, not broken and there is no situation of traders massively buying rice and paddy, causing shortages and price fever. In traditional markets, the price of rice has increased mainly for non-glutinous rice. Explaining the reason for the increase in non-glutinous rice prices, many traders said that this is an essential food, with high daily demand and cannot be replaced. Other types of rice such as sticky rice, brown rice or specialty rice are basically stable. Golden flower sticky rice costs 28 - 35 thousand VND/kg, brown rice costs 25 - 32 thousand VND/kg, depending on the type and origin of the growing area, the price will be different.

On the other hand, the increase in rice prices has pushed up the price of paddy, many areas of fields that were difficult to cultivate and were previously abandoned have been taken over by people for cultivation. Mr. Pham Trinh Luong, Director of Luong Nhien Company Limited, Nguyen Trai Commune (An Thi) said: This spring crop, the company's rice seed output increased by 30% compared to the same period last year, and the company's agents also sold more products. The reason is that the price of agricultural materials has decreased, the price of paddy and rice has increased, so people have taken over more fields for cultivation to increase their income.

In the context of some countries banning rice exports, reducing rice sales, and increasing rice reserves due to the impact of extreme weather, natural disasters, and droughts, small traders in some localities in the country are massively purchasing rice, causing a local imbalance in supply and demand, pushing domestic food prices up unreasonably. To ensure rice supply in the provincial market, the Department of Industry and Trade has coordinated with relevant agencies and local authorities to closely monitor rice prices; strengthen inspection and control of business establishments, wholesale and retail outlets, markets, supermarkets, commercial centers, and warehouses to control supply and prices, and prevent violations of price listing, speculation, hoarding, and unreasonable pricing of rice. At the same time, strengthen supervision of production, circulation and consumption of rice to promptly prevent the transportation and trading of rice of unknown origin and strictly handle cases of speculation and illegal profiteering, pushing up rice prices and causing market instability.

Hoa Phuong

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