Positive forecast for rice exports in the last months of the year

Today's rice prices in the Mekong Delta (MD) have slightly decreased. At An Giang warehouses, according to the update of the Department of Agriculture and Rural Development of An Giang province on September 18, the price of Dai Thom 8 rice decreased by VND 100/kg to VND 8,000 - 8,100/kg.

Meanwhile, the prices of the remaining rice varieties remained stable. Specifically, OM 18 rice was priced at 8,000 - 8,200 VND/kg, OM 5451 was priced at 7,700 - 8,100 VND/kg; Nang Hoa 9 was priced at 8,200 - 8,400 VND/kg; IR 50404 rice was stable at 7,700 - 8,000 VND/kg; and Japanese rice was 7,800 - 8,000 VND/kg.

Although it has decreased slightly, since the beginning of the Summer-Autumn crop, rice prices in the Mekong Delta have remained quite high. Farmers have made profits, businesses have expanded their rice purchasing scale to meet export orders and negotiated and signed contracts with countries that are in need of rice for storage in the face of recent export restrictions by many countries.

Regarding rice prices, today's adjustment increased around 100 - 200 VND/kg. Specifically, the price of IR 504 raw rice fluctuated around 11,900 - 12,000 VND/kg, an increase of 100 VND/kg; IR 504 finished rice also increased by 200 - 300 VND/kg to 14,000 - 14,100 VND/kg.

As for by-products, prices fluctuated in opposite directions between items. Specifically, the price of IR 504 sheet increased by VND150/kg to VND11,800 - 12,000/kg; meanwhile, the price of dry bran decreased by VND400/kg to VND6,700 - 6,800/kg.

At retail markets, rice prices have not fluctuated. Specifically, they are at 15,500-17,000 VND/kg; glutinous rice is currently at 16,000-21,000 VND/kg; regular rice is at 13,000-15,000 VND/kg; common white rice fluctuates around 16,000 VND/kg...

According to Mr. Le Thanh Tung - Deputy Director of the Department of Crop Production, Ministry of Agriculture and Rural Development , this year's rice production has achieved the most success in the past 10 years. In addition to the success in planting area and output, rice prices have also been recorded at high levels and export output has increased, achieving the dual goal of "good harvest, good price".

Despite the adverse weather conditions, localities and people have made efforts to overcome challenges to achieve the industry's goals. Farmers have made profits, businesses have exported rice at high prices and expanded export markets.

Not only Vietnamese rice but also Thai and Pakistani rice exports have dropped to 611 USD/ton for 5% broken rice and 608 USD/ton for 25% broken rice. Source: Vietnam Food Association. — Not only Vietnamese rice, Thai and Pakistani rice exports have also decreased in recent sessions. Source: Vietnam Food Association

In the export market, rice export prices remained stable today. According to the Vietnam Food Association (VFA), the export price of 5% broken rice is currently at 613 USD/ton and 25% broken rice fluctuates at 598 USD/ton.

Thai rice prices decreased slightly. Specifically, the export price of 5% broken rice was at 608 USD/ton (down 3 USD/ton); 25% broken rice was priced at 552 USD/ton (up 2 USD/ton); 100% broken rice was priced at 466 USD/ton (down 2 USD/ton).

Pakistani rice prices remained unchanged. Export price of 5% broken rice was at $608 per ton; 25% broken rice was at $538 per ton; 100% broken rice was at $518 per ton.

The Vietnam Food Association forecasts that from now until the end of the year, the Philippines is expected to import an additional 1.1 million tons of rice, Indonesia is likely to import about 700,000 tons of rice. Other markets such as Malaysia and China also plan to import rice in the near future.

Along with that, the crop calendar for the 2023-2024 Winter-Spring rice crop in the Mekong Delta started early when farmers planted in early October. Harvest is expected to be in January 2024. Meanwhile, the 2023 Autumn-Winter crop has begun and will last until December 2023. This will create favorable conditions for businesses to have raw materials to serve the rice export market.

Source