By creating a distinctive brand, Vietnamese rice leads the region in price.

Over the past week, the export price of 5% broken rice from Vietnam has been trading at the highest level in the region, thanks to a relatively unique rice industry development compared to other countries.

Vietnamese 5% broken rice is currently trading at the highest price in the region. (Source: VGP)

Both paddy and rice prices in the Mekong Delta region saw an increase last week.

Vietnam's 5% broken rice exports are currently trading at the highest prices in the region, thanks to its relatively unique rice industry development compared to other countries.

According to the Vietnam Food Association, the highest price for ordinary rice at the farm gate last week was 7,150 VND/kg, with an average price of 6,893 VND/kg, an increase of 157 VND/kg.

The price of ordinary paddy rice at the warehouse increased by an average of 117 VND/kg, reaching 8,458 VND/kg; the highest price was 8,850 VND/kg.

Prices for various rice products have also increased. 5% broken rice reached a high of 13,500 VND/kg, with an average price of 13,221 VND/kg, an increase of 271 VND/kg. 15% broken rice reached a high of 13,000 VND/kg, with an average price of 12,883 VND/kg, an increase of 150 VND/kg.

Rice with 25% broken grains had the highest price at 12,700 VND/kg, with an average price of 12,467 VND/kg, an increase of 100 VND/kg. The price of milled white rice (grade 1) increased most sharply by 690 VND/kg, with an average price of 14,260 VND/kg. Brown rice (grade 1) increased by 300 VND/kg, with an average price of 11,600 VND/kg.

According to an update from the An Giang Department of Agriculture and Rural Development, the prices of some rice varieties purchased by traders are as follows: IR 50404 is priced at 7,300-7,500 VND/kg, an increase of 500 VND/kg; OM 5451 is priced at 7,300-7,500 VND/kg; OM 380 is 7,000 VND/kg; Dai Thom 8 (fresh) and OM 18 (fresh) are priced at 8,200-8,400 VND/kg.

In An Giang 's retail market, regular rice is priced from 15,000-16,000 VND/kg; long-grain fragrant rice from 20,000-22,000 VND/kg; Jasmine rice from 17,000-18,000 VND/kg; common white rice at 17,500 VND/kg, and Nang Hoa rice at 21,500 VND/kg.

Regarding exports, traders in the Mekong Delta region said Vietnamese 5% broken rice was being offered at $520-525 per ton, unchanged from a week earlier.

A trader in An Giang province said prices remained stable amid declining supply.

According to the bidding results, the Indonesian National Logistics Agency (Bulog) will purchase more than 80,000 tons of rice from Vietnam, with delivery expected in November and December 2024.

Meanwhile, export rice prices from India fell for the third consecutive week, reaching their lowest level in 15 months due to the depreciating rupee and increased supply.

Indian parboiled rice with 5% broken grains was quoted at $440-447 per ton this week, the lowest level since July 2023 and down from $442-449 per ton last week.

Indian 5% broken white rice is being offered at around $440-450 per ton. A trader in Kolkata said the rupee has depreciated in the past few days, causing export prices to fall.

According to this trader, demand from African countries is strong because they can now buy rice at much lower prices than a month ago.

Last month, India abolished export duties on parboiled rice and removed the $490/tonne floor price for non-basmati white rice to boost exports.

Traders said Thai 5% broken rice was quoted at $490 per ton, similar to last week's range of $485-495 per ton, amid a strengthening US dollar following the US presidential election.

In related news, Bangladesh has held an international tender to purchase 50,000 tons of rice.

According to figures from the Bangladesh Ministry of Agriculture, floods in Bangladesh have reduced rice production by approximately 1.1 million tons.

Regarding the US agricultural market, soybean futures prices on the Chicago Mercantile Exchange fell on November 8th, after reaching a nearly one-month high in the previous session, driven by a recovery in the vegetable oil market. Corn and wheat prices also declined on November 8th.

However, all three grains rose in price on a weekly basis. Soybean prices fell 0.6% to $10.1975 per bushel at the end of the week, after reaching $10.28 per bushel in the previous session.

Soybean prices have risen 2.6% since the beginning of the week. Meanwhile, corn prices fell 0.1% on November 8th to $4.27 per bushel, but are up 3% on a weekly basis.

Wheat prices fell 0.1% to $5.70 per bushel on November 8th, but rose 0.5% over the past week.

The U.S. Department of Agriculture (USDA) assesses that demand for U.S. soybean and corn exports remains robust. Meanwhile, improved weather in Argentina and top exporter Brazil has eased concerns about production.

Additionally, the USDA indicated that American farmers may expand corn acreage while reducing soybean and wheat planting in the upcoming crop year.

Regarding the global coffee market, according to the latest data, world coffee prices fell across both the ICE Futures Europe and ICE Futures US exchanges on November 9th.

On the ICE Futures Europe exchange, robusta coffee prices for November 2024 delivery fell by $91/tonne to $4,395/tonne; and for January 2025 delivery fell by $90/tonne to $4,334/tonne.

On the ICE Futures US exchange, the price of Arabica coffee for December 2024 delivery fell by 6.15 cents/lb to 254.25 cents/lb; for March 2025 delivery, it fell by 5.9 cents/lb to 253.85 cents/lb.

According to analysts, the decline in world coffee prices may be related to pressure from the harvest in Brazil, the world's largest coffee producer.

At the same time, factors such as fluctuations in the USD exchange rate and US economic policies also affect global coffee prices.

The decline in world coffee prices could be a signal that the market is entering a correction phase after a long period of price increases.

In the domestic market, coffee prices in the Central Highlands region rebounded compared to yesterday, bringing the average price to around 107,800 VND/kg.

Source: https://baoquocte.vn/biet-tao-dung-thuong-hieu-khac-biet-gao-viet-nam-dung-dau-khu-vuc-ve-gia-293280.html